Qorvo (QRVO)
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-09
$105.24+1.12%
Close 2026-09-09 · 1-day change
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-09
Broken: Primary pillar broken — Revenue growth near 0% or better: Q1 FY27 rev -4.2% vs 0% target.
Qorvo designs and makes radio-frequency chips for wireless use. It guides gross margins near 50% and EPS around $7.0 for fiscal 2027. The company is cheap with a PE of 13.4 versus peers at 73.4. The Skyworks acquisition may boost growth and market share.
Revenue fell 7% last year and consensus expects flat revenue next year. Profit growth is uncertain and the recent 21% price drop shows investor doubts. Cost management progress is limited, risking margin pressure.
The stock trades about 60% below our fair value near $221. Analysts expect roughly zero revenue growth. The market prices in weak near-term growth and moderate profit margins.
Breaks if: EPS falls below $6.5 in FY27
Breaks if: Gross margin falls below 48% in FY27 Q4
Breaks if: Operating income falls below $190M in any quarter
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a durable compounder with a focus on enhancing profitability and reducing capital intensity. The current thesis state is watchful, as recent financial performance has shown mixed results, despite high confidence in management execution.
The market currently prices QRVO as cheap compared to its peers, with a notable expectations gap. This suggests that investors may have low expectations for significant growth in the near term.
Fundamentals are likely to improve as management continues to focus on achieving a non-GAAP gross margin above 50% and enhancing profitability. However, there is a moderate risk of missing earnings expectations, given the recent trend of declining earnings surprises.
The long-term thesis hinges on key factors such as the potential for the Fed to cut interest rates, which could benefit QRVO, and the performance of sector leaders like NVDA, TSM, and AVGO. Additionally, any cuts in guidance from management could negatively impact sentiment.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports this improvement. The acquisition by Skyworks also enhances growth potential and market position. There are no new threats to the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: YoY revenue growth falls below 0% in FY27
Overall, QRVO's performance will depend on management's ability to execute its priorities and external market conditions. Not investment advice.