Key TakeawaysQorvo shares jumped 11% Friday when hedge fund Starboard Value made a significant investment in the maker of radio frequency and power semiconductors.A regulatory filing shows Starboard owns 7.29 million shares, which equates to a value of more than half a billion dollars.Qorvo warned in October its business was being negatively impacted by changing cellphone demand. Qorvo (QRVO) shares jumped 11% Friday when hedge fund Starboard Value made a significant investment in the maker of radio frequen ...

GREENSBORO, N.C., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, will host a conference call to review fiscal 2025 third quarter financial results on Tuesday, January 28, 2025, at 4:30 p.m. (ET). The conference call will be webcast live on the Company's Investor Relations website at the following URL: https://ir.qorvo.com (under “Events & Presentations”). A telephone playback of the conference call will be available approximately two h ...

Qorvo, Inc. (QRVO) recently announced that its automotive-qualified QPF5100Q Ultra-Wideband (UWB) System-on-Chip (SoC) solution is currently being sampled at key customers. The SoC solution is designed to address the growing demand within the automotive industry for highly accurate and reliable UWB technology, particularly for applications such as secure keyless entry, Digital Key and UWB radar functionalities like child presence detection and motion sensing. Key Takeaways of QRVO’s Latest Product Line  Bui ...

GREENSBORO, N.C., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced that its QPF5100Q Ultra-Wideband (UWB) System-on-Chip (SoC) is automotive-qualified and sampling with key customers. This breakthrough SoC addresses automotive industry demands for highly accurate, reliable UWB technology in applications such as secure keyless entry and Digital Key, as well as UWB radar applications like child presence detection and motion ...

This has turned out to be a forgettable year for Qorvo (QRVO 3.24%) investors as shares of the chipmaker are down 38% as of this writing, which is in stark contrast to the 23% gains clocked by the PHLX Semiconductor Sector index in 2024.Known primarily for supplying smartphone chips to the likes of Apple (AAPL 1.88%) and Samsung, shares of Qorvo plunged  following the release of the company's fiscal 2025 second-quarter results in October. Though the company's revenue and earnings were higher than Wall Stree ...

Company and Industry Overview * **Company**: Qorvo, Inc. (NASDAQ: QRVO) * **Industry**: Semiconductor and Semicap Equipment * **Event**: Barclays 22nd Annual Global Technology Conference, December 12, 2024 * **Participants**: Grant Brown (CFO), Dave Fullwood (SVP, Sales and Marketing), Philip Chesley (President, High Performance Analog & Senior VP) Key Points Business Segments and Growth * **ACG (Analog Components Group)**: * Strong position with largest customer, driving content gains over multiple years. * Shift from mid-tier 5G to entry-tier 5G in Android business, focusing on flagship and premium tiers. * Growth expected in mid-teens. * **HPA (High Performance Analog)**: * Expansion in defense and aerospace franchise, particularly in power management. * Growth expected in mid-teens. * **CSG (Custom Solutions Group)**: * Strength in Wi-Fi, investing in diversifying growth businesses like automotive solutions and SoCs for ultra-wideband and Matter. * Growth expected in mid-teens. * **Overall Strategy**: * Reinvest cash flows into attractive opportunities and focus on profitability. * Reduce capital intensity and deliver on long-term financial model. * Execute share repurchase and evaluate inorganic growth through acquisitions. Large Customer and Content Growth * Largest customer accounts for over 50% of total revenue and expected to remain at that level. * Secured sufficient wins for year-over-year content growth in 2025. * Investing to grow content further, engaging on more product programs than ever before. Financials and Margin Improvement * Gross margin headwinds in December and March quarters due to Android mix shift and utilization. * Actions taken to improve gross margin, including: * Removing variable costs. * Reducing fixed costs through capital intensity reduction and workforce reduction. * Adjusting Android roadmap to align with flagship and premium tiers. * Reducing digital transformation spend. * Divesting Silicon Carbide business. * Targeting 50% gross margin by fiscal year 2026. * Actions expected to take out over $100 million of COGS and OpEx annually. Growth Focus Areas * **HPA**: * D&A (Distributed Antenna Systems) and Power Management. * Growth driven by technology upgrades, electronic warfare, and communication and SATCOM segments. * Targeting $1 billion in D&A revenue by fiscal year 2026. * **CSG**: * Ultra-wideband, Matter over Thread, Wi-Fi 7, forward sensing, and automotive connectivity. * Multiyear drivers expected to deliver mid to high teen growth rate. Manufacturing and Security * Significant overlap in production facilities between HPA and CSG, benefiting from economies of scale. * Qorvo has assets located in the United States, providing a competitive advantage in the defense and aerospace markets. * Qorvo is a U.S. Trusted Foundry, ensuring security infrastructure and capability for sensitive information.

GREENSBORO, N.C., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced that Company executives are scheduled to present at the Barclays 22nd Annual Global Technology Conference on Thursday, December 12, 2024, at 12:50 p.m. Eastern Time (9:50 a.m. Pacific Time). A live webcast of the event will be available on the Company’s website at the following URL: https://ir.qorvo.com (under “Events & Presentations”). About QorvoQorvo (N ...

GREENSBORO, N.C., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced that MediaTek has selected Qorvo as a key supplier for the inaugural wave of Wi-Fi 7 front-end modules (FEMs) on the MediaTek MT6653 Wi-Fi 7/Bluetooth® combo chip. Qorvo’s Wi-Fi 7 FEMs and the MediaTek MT6653 used in the MediaTek Dimensity 9400 platform are optimized to deliver a best-in-class end-user experience that help enable enhanced Wi-Fi 7 performan ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to _____ Commission File Number 001-36801 Qorvo, Inc. (Exact name of registrant as specified in its charter) Delaware 46-5288992 (State or oth ...

Core Viewpoint - Qorvo's stock price dropped significantly despite beating sales and earnings estimates, indicating underlying issues in performance and outlook [1][2]. Financial Performance - Qorvo reported adjusted earnings of $1.88 per share and sales of $1.05 billion, surpassing analyst expectations of $1.85 per share and $1.03 billion in sales [1]. - Year-over-year sales declined by 5%, and the gross profit margin fell to 42.6%, while operating costs surged by 29% [2]. - The company experienced a net loss of $0.18 per share for the quarter, compared to a profit of $0.99 per share in the same quarter last year [2]. Future Outlook - CFO Grant Brown indicated that while Q2 performance exceeded guidance, the outlook for Q3 is concerning, with expectations of a sales miss at $900 million against Wall Street's forecast of over $1 billion [3][4]. - Adjusted earnings for Q3 are projected to be around $1.20 per share, significantly lower than the Street's forecast of $1.92 per share [4]. Market Sentiment - Despite the positive free cash flow, Qorvo's price-to-free-cash-flow ratio of 25 is viewed as unattractive, leading to skepticism about the stock being a good buying opportunity [5]. - Wall Street anticipates a net loss of $0.50 per share for the full fiscal year, reflecting a cautious sentiment towards Qorvo's future performance [5].