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With a market cap of $11.3 billion, Qorvo, Inc. (QRVO) provides core technologies and radio frequency (RF) solutions for mobile, infrastructure, aerospace, and defense applications. The Greensboro, North Carolina-based company is expected to announce its Q1 earnings after the market closes on Tuesday, Jul. 30.
Ahead of the event, analysts expect Qorvo to report a profit of $0.43 per share, up significantly from $0.03 per share reported in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS projections in the past four quarters. QRVO reported an EPS of $1.17 in Q4 2024, exceeding the consensus estimates by 14.7%.
In fiscal 2025, analysts expect Qorvo to report an EPS of $5.16, up 3.6% from $4.98 in fiscal 2024. Looking forward to fiscal 2026, its EPS is expected to grow 43.6% year over year to $7.41.
QRVO stock is up 7.3% on a YTD basis, underperforming the S&P 500 Index’s ($SPX) 14% gains and the S&P 500 Technology Sector SPDR’s (XLK) around 12% returns over the same time frame.
Despite better-than-expected Q4 earnings results on May 1, shares of Qorvo fell 14.5% on the following day due to its forecast for Q1 revenue and profit falling below Wall Street estimates. This was primarily driven by weak demand from the flagship smartphone market. Additionally, the company anticipates higher-cost inventories related to mass-market 5G products, further impacting investor sentiment.
The consensus opinion on Qorvo stock is cautious, with an overall “Hold” rating. Out of the 22 analysts covering the stock, four recommend “Strong Buy,” two advise “Moderate Buy,” 13 suggest “Hold,” one indicates “Moderate Sell,” and two have a “Strong Sell” rating. This configuration is slightly less bullish than three months ago when five analysts recommended a “Strong Buy.” Currently, QRVO is trading above the average analyst price target of $111.21.
On the date of publication, Sohini Mondal 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.
