Qorvo Reports Q3 2026 Earnings with Strategic Focus on Profitability
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: seekingalpha
- Solid Financial Performance: Qorvo reported Q3 revenue of $993 million, a non-GAAP gross margin of 49.1%, and diluted EPS of $2.17, all exceeding expectations, indicating ongoing efforts to optimize profitability.
- Strategic Resizing: CEO Bruggeworth announced a planned $300 million reduction in Android revenue for FY '27, aimed at enhancing overall gross margins by reducing exposure to low-margin products, thereby supporting higher operating profits.
- Technology Milestone: Qorvo secured a high-band pad order for cellular-enabled iPads, marking a significant technological achievement and providing an opportunity to demonstrate capability, aligning with its long-term investment strategy and strengthening market position.
- Market Outlook: Management anticipates a slight decline in overall revenue for FY '27, yet projects gross margins above 50% and EPS approaching $7, reflecting continued momentum in high-performance analog, defense, and infrastructure markets.
Analyst Views on QRVO
Wall Street analysts forecast QRVO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QRVO is 100.08 USD with a low forecast of 85.00 USD and a high forecast of 110.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
1 Buy
15 Hold
1 Sell
Hold
Current: 82.500
Low
85.00
Averages
100.08
High
110.00
Current: 82.500
Low
85.00
Averages
100.08
High
110.00
About QRVO
Qorvo, Inc. is a global provider of connectivity and power solutions. The Company supplies semiconductor solutions. The Company operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG) and Advanced Cellular Group (ACG). The HPA segment is a global supplier of radio frequency (RF), analog mixed signal and power management solutions. The CSG segment is a global supplier of connectivity and sensor solutions, with broad expertise spanning ultra-wideband (UWB), Matter, Bluetooth Low Energy (BLE), Zigbee, Thread, Wi-Fi, cellular solutions for the Internet of Things (IoT) and microelectromechanical system (MEMS)-based sensors. The ACG segment is a global supplier of advanced cellular solutions for smartphones, wearables, laptops, tablets and other devices. The Company serves diverse segments of global markets, including automotive, consumer, defense and aerospace, industrial and enterprise, infrastructure and mobile.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
