Qorvo (QRVO) reported earnings 30 days ago. What's next for the stock?
Loop Capital analyst Gary Mobley initiated coverage of Qorvo with a Hold rating and $73 price target. For the past few years, Qorvo and smartphone chip peers have been consensus shorts, and these shorts have been rewarded, the analyst tells investors in a research note. Against this backdrop, the firm believes Qorvo should continue to face near-term headwinds from the changing market dynamics in the Android smartphone market, particularly in the China Android market.
Loop Capital initiated coverage of Qorvo with a Hold rating and $73 price target.
The chip supplier really had a fiscal second quarter to forget.
Qorvo reported earnings in late October and the stock is down a staggering 29% since on underwhelming guidance. I am upgrading QRVO stock to buy as I think it has hit bottom and should see a U-turn in the smartphone market next year. In my opinion, the company's diversification strategy should also lessen the reliance on Apple.
Shares of Qorvo (QRVO) plunged more than 25% Wednesday afternoon when the radio frequency and power chipmaker posted a surprising loss and warned of a continuing slowdown in its business.
Qorvo stock got a lot cheaper today, but isn't yet "cheap."
QRVO reports healthy second-quarter fiscal 2025 results despite a year-over-year decline in sales in several business verticals.
The radio-frequency chip maker beats quarterly earnings and sales estimates but issues disappointing guidance.
Qorvo, Inc. (NASDAQ:QRVO ) Q2 2025 Earnings Conference Call October 29, 2024 5:00 PM ET Company Participants Douglas DeLieto - Vice President, Investor Relations Robert Bruggeworth - President and Chief Executive Officer Grant Brown - Senior Vice President and Chief Financial Officer Dave Fullwood - Senior Vice President, Sales and Marketing Conference Call Participants Thomas O'Malley - Barclays Aman Gulani - UBS Christopher Rolland - Susquehanna Edward Snyder - Charter Equity Research Nicolas Doyle - Needham & Company Krish Sankar - TD Cowen Peter Peng - JPMorgan Karl Ackerman - BNP Paribas Operator Good day and welcome to the Qorvo, Inc. Second Quarter 2025 Earnings Conference Call. All participants will be in a listen-only mode.
Qorvo (QRVO) came out with quarterly earnings of $1.88 per share, beating the Zacks Consensus Estimate of $1.85 per share. This compares to earnings of $2.39 per share a year ago.
Chipmaker Qorvo on Tuesday forecast third-quarter revenue and profit below Wall Street estimates, pressured by stiff competition and a consumer shift towards entry-tier smartphones, sending the company's shares down 14% in extended trading.