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Greensboro, North Carolina-based Qorvo, Inc. (QRVO) provides core technologies and radio frequency (RF) solutions for mobile, infrastructure, aerospace, and defense applications. With a market cap of $9.5 billion, it operates through High-Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG) segments. The semiconductor major is expected to announce its Q2 earnings after the market closes on Tuesday, Oct. 29.
Ahead of the event, analysts expect Qorvo to report a profit of $1.50 per share, down 24.6% from $1.99 per share reported in the year-ago quarter. The company has surpassed Wall Street’s bottom-line projections in each of the past four quarters. QRVO reported adjusted EPS of $0.48 in Q1 2025, exceeding the consensus estimates by 11.6%.
Looking ahead to fiscal 2025, analysts expect Qorvo to report an adjusted EPS of $4.84, down 2.8% from $4.98 in fiscal 2024. However, in fiscal 2026, its adjusted EPS is expected to soar 41.5% year-over-year to $6.85.
QRVO stock has plummeted 11.6% in 2024, significantly underperforming the S&P 500 Index’s ($SPX) 21.8% gains and the Technology Select Sector SPDR Fund’s (XLK) 19% returns on a YTD basis.
Shares of Qorvo recovered marginally following the release of its Q1 earnings on Jul. 30, driven by strong performance in its Connectivity and Sensors Group and Advanced Cellular Group, resulting in a 36.2% year-over-year revenue increase to $886.7 million, which surpassed analysts' expectations. Additionally, the company reported a net income of $414 thousand, a significant turnaround from the $43.6 million net loss in the same quarter last year. However, on a quarter-over-quarter basis, Qorvo faced challenges, with revenues declining 5.8% and net income plummeting 84.9%.
The consensus opinion on QRVO stock is cautious, with an overall “Hold” rating. Out of the 21 analysts covering the stock, three suggest “Strong Buy,” two advise “Moderate Buy,” 13 recommend “Hold,” one advises “Moderate Sell,” and two give a “Strong Sell” rating. The mean price target of $121.83 suggests a potential upside of 22.4% from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
