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Qorvo, Inc. (QRVO), headquartered in Greensboro, North Carolina, is a leading provider of core technologies and radio frequency (RF) solutions for mobile, infrastructure, aerospace, and defense applications. Valued at a market cap of $6.8 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 Q3 earnings after the market closes on Wednesday, Jan. 29.
Ahead of the event, analysts expect Qorvo to report a profit of $0.87 per share, down 53.9% from $1.89 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.
Looking ahead to fiscal 2025, analysts expect Qorvo to report an adjusted EPS of $3.37, down 32.3% from $4.98 in fiscal 2024. However, in fiscal 2026, its adjusted EPS is expected to rebound, rising 31.2% year-over-year to $4.42.
QRVO stock has plummeted 11.6% over the past year, significantly underperforming the S&P 500 Index’s ($SPX) 28.6% gains and the Technology Select Sector SPDR Fund’s (XLK) 27.1% returns over the same period.
Qorvo's struggles stem largely from intense competition and subdued demand in the smartphone market. The shift in consumer preference toward lower-priced 5G smartphones over mid-range models has pressured the company's profit margins.
QRVO's shares plummeted 27.3% on Oct. 29, following its Q3 earnings release. While the company reported $1 billion in revenue, a 5.2% decline year-over-year, and adjusted EPS of $1.88, down 21.3%, both figures modestly surpassed Wall Street's estimates. However, investor confidence waned as Qorvo slashed its revenue and earnings outlook for the second half of 2025.
The consensus opinion on QRVO stock is cautious, with an overall “Hold” rating. Out of the 23 analysts covering the stock, two suggest “Strong Buy,” one advise “Moderate Buy,” 17 recommend “Hold,” one advises “Moderate Sell,” and two give a “Strong Sell” rating.
The mean price target of $91.84 suggests a potential upside of 24.7% from current price levels.
