| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 51 | 27.0x | 17.8x | Around median | |
Growth | 48 | -0.2% | 7.1% | Around median | |
Quality | 76 | 8.1% | 4.5% | Top tier | |
Safety | 80 | 0.4x | 2.6x | Top tier | |
Capital Return | 64 | — | 2.12% | Around median | |
Momentum | 89 | 5.0% | 2.9% | Top tier | |
Sentiment | 46 | 12 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Qorvo designs and supplies semiconductor solutions for radio frequency, power management, and connectivity. The ACG segment serves smartphones through discrete components, tuners, ET PMICs, and integrated modules, while CSG sells Wi‑Fi and Ultra‑Wideband solutions for automotive, enterprise, and factory applications, and HPA serves defense, aerospace, satellite communications, data center, and infrastructure markets. In Q3 fiscal 2026, the largest customer accounted for approximately 53% of revenue, highlighting the importance of the mobile-device business despite the company’s expansion in the HPA and CSG markets.
In Q4 fiscal 2026, Qorvo recorded revenue of $808.3 million and gross profit of $395.0 million, equivalent to a calculated gross margin of approximately 48.9%, and net income of $29.7 million. Compared with Q3 fiscal 2026, revenue declined by approximately 18.6% from $993.0 million, and net income fell by approximately 81.9% from $164.1 million. This comparison reflects the impact of seasonality at the largest customer and the reduction of low-margin Android handset business, offset by continued HPA momentum.
Fiscal 2026 revenue was approximately $3.7 billion, gross profit was $1.7 billion, net income was $339.0 million, and earnings per share were $3.62. The business mix is undergoing a deliberate shift: management expects ACG to contract due to reduced exposure to mass-market Android handsets, CSG to remain approximately stable in fiscal 2027, and HPA to continue growing at a double-digit rate. Through this shift, the company aims to raise fiscal 2027 gross margin above 50% and bring earnings per share to approximately $7, despite expecting annual revenue to decline at a mid-single-digit rate.
The average analyst price target is $94, versus a wide range of $66 to $120 and a Neutral consensus rating, reflecting disagreement over whether improvements in mix and margin can offset the Android contraction. The average target is approximately 14% below the 52-week range high of $109.49, while exceeding the range low of $74.92 by approximately 25%; the fiscal 2027 earnings-per-share target of nearly $7 must be weighed against the expected mid-single-digit decline in annual revenue.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Qorvo is deliberately reducing its exposure to low-margin, mass-market Android handsets while maintaining participation in flagship and premium devices. Management expects Android revenue to decline by approximately $300 million in fiscal 2027 compared with fiscal 2026. Most of the decline is due to portfolio restructuring, while higher memory prices and limited availability are a secondary factor pressuring mass-market device production plans.
Qorvo expects defense and aerospace market sales to reach approximately $500 million in fiscal 2027 and HPA to continue growing at a double-digit rate. Opportunities identified by management include Golden Dome and F47, fighter aircraft, ship, and drone programs, in addition to satellite communications. However, the company expects total revenue to decline at a mid-single-digit rate in fiscal 2027, meaning HPA growth will not fully offset the contraction in ACG during that period.
Non-GAAP gross margin was approximately 49.1% in Q3 fiscal 2026, up approximately 260 basis points year over year. Management is targeting gross margin above 50% in fiscal 2027 and earnings per share approaching $7. This depends on increasing the weight of higher-margin HPA, reducing low-margin Android business, lowering expenses, closing the Costa Rica facility, and transferring SAW production to Greensboro and Richardson.
Automated analysis for informational purposes only — not investment advice.
The largest customer accounted for approximately 53% of Q3 fiscal 2026 revenue, so changes in content and seasonality at that customer directly affect Qorvo’s results. The company expects revenue from this customer to remain approximately stable in fiscal 2027, supported by the adoption of ET PMIC associated with the internal modem and content gains in cellular iPad devices. Conversely, Qorvo secured a lower share of the ultra‑high band PAD module for handset models associated with fiscal 2027 and expects revenue from this module to decline year over year.
The proposed combination of Skyworks Solutions and Qorvo was announced on October 28, 2025, according to the Q3 fiscal 2026 earnings call. On August 3, 2026, Skyworks announced the expiration of the waiting period under the HSR Act, removing a significant federal regulatory hurdle at that stage. The expiration of the waiting period alone does not mean the transaction has been completed, so the operating thesis also remains tied to Qorvo’s standalone results and its mix shift toward HPA.
