Qorvo (NASDAQ:QRVO) Trading Down 10.3% - Here's What Happened

Key Points

• Shares fell 10.3% intraday to about $86.43 from a $96.35 close, on relatively light trading as the market reacted to the company's results and outlook.
• Qorvo beat on non‑GAAP EPS ($1.69 vs. ~$1.21) and raised FY‑2027 guidance to 7.00 EPS, but GAAP EPS was weaker ($0.32) and revenue declined about 7% year‑over‑year to $808.3 million.
• The firm warned of rising inventory and soft smartphone demand that could pressure near‑term growth and margins, and Wall Street remains mixed with a consensus "Hold" and an average price target around $95.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report)'s share price fell 10.3% during trading on Wednesday . The stock traded as low as $87.38 and last traded at $86.4280. 317,841 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,276,461 shares. The stock had previously closed at $96.35.

More Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Q4 non-GAAP EPS came in well above estimates at $1.69 (vs. ~$1.21 consensus), driven by margin expansion and cost control, which helped profitability. Qorvo Q4 Earnings Surpass Estimates Despite Lower Revenue Growth
• Positive Sentiment: Management raised FY‑2027 EPS guidance to 7.00 (midpoint effectively 7.00), above street estimates (~6.53), signaling confidence in margin and profitability trajectory. Qorvo® Announces Fiscal 2026 Fourth Quarter Financial Results
• Neutral Sentiment: GAAP results were weaker (GAAP EPS $0.32) versus non‑GAAP figures, so investors must reconcile one‑time adjustments when modeling forward earnings. Qorvo Press Release (PDF)
• Neutral Sentiment: Analysts and outlets are re-checking valuation after a recent share-price run; a higher multiple after strong EPS could make the stock vulnerable to disappointment. Qorvo Valuation Check After Recent Share Price Momentum
• Negative Sentiment: Revenue declined ~7% YoY to $808.3M and management cited weak smartphone demand — a key end market — which raises growth uncertainty. Qorvo (QRVO) Tops Q4 Earnings and Revenue Estimates
• Negative Sentiment: Inventory levels increased and the company flagged channel/stock build, which could pressure near-term revenue and margins if demand remains soft. Qorvo Q1: Beats On Revenue But Inventory Levels Increase

Wall Street Analyst Weigh In

Several brokerages have recently commented on QRVO. Wolfe Research downgraded Qorvo from an "outperform" rating to a "peer perform" rating in a research note on Friday, April 17th. Zacks Research downgraded Qorvo from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 16th. Mizuho reissued an "underperform" rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Barclays raised Qorvo from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Finally, Citigroup lowered their price objective on Qorvo from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Qorvo presently has a consensus rating of "Hold" and a consensus price target of $95.19.

Qorvo Trading Down 7.7%

The company has a market capitalization of $8.25 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. The firm has a fifty day moving average price of $81.03 and a 200-day moving average price of $83.95.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.48. The company had revenue of $808.30 million during the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.Qorvo's quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities research analysts anticipate that Qorvo, Inc. will post 5.29 earnings per share for the current year.

Hedge Funds Weigh In On Qorvo

Several institutional investors have recently modified their holdings of QRVO. Jones Financial Companies Lllp grew its holdings in shares of Qorvo by 440.1% in the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company's stock valued at $589,000 after acquiring an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Qorvo by 158.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company's stock valued at $180,000 after purchasing an additional 1,301 shares during the period. First Trust Advisors LP grew its holdings in Qorvo by 56.5% during the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company's stock valued at $12,100,000 after purchasing an additional 51,475 shares during the period. Marshall Wace LLP bought a new position in Qorvo during the second quarter valued at $428,000. Finally, Cerity Partners LLC bought a new position in Qorvo during the second quarter valued at $327,000. 88.57% of the stock is owned by institutional investors.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

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