Qorvo Inc Stock Price, News & Analysis

Qorvo (Nasdaq: QRVO) announced a new three-stage power solution for phased array radar applications on Feb. 2, 2023. This innovative chipset enhances system performance through configurable GaN bias point autocalibration and reduces capacitance by up to 90%, leading to a 30% decrease in system volume and lower operating costs. The solution includes three components: the ACT43950 capacitor charge controller, the ACT43850 RF Point-of-Load power converter, and the ACT43750 drain switch regulator. An evaluation board is available for performance testing, facilitating faster market entry for customers.

Qorvo (Nasdaq: QRVO) reported its fiscal 2023 third-quarter results with revenue of $743 million, a 36.1% gross margin, and an operating income of $9 million. The loss per share stood at $0.16 on a GAAP basis. Non-GAAP metrics showed a 40.9% gross margin, $99 million operating income, and $0.75 diluted EPS. CEO Bob Bruggeworth noted ongoing improvements despite challenges and highlighted strategic growth in product offerings. The company expects March quarter revenue between $600 million and $640 million, with a projected non-GAAP gross margin of 41% and diluted EPS between $0.10 and $0.15.

Qorvo (Nasdaq: QRVO) will host a conference call on February 1, 2023, at 5:00 p.m. ET to discuss its fiscal 2023 third quarter financial results. The financial results will be released at approximately 4:00 p.m. ET on the same day. Investors can access the live call via the Company's Investor Relations website. A playback of the call will be available within two hours after its conclusion, through February 8, 2023. Qorvo specializes in innovative semiconductor solutions across various sectors including consumer electronics, IoT, and automotive.

Qorvo (Nasdaq: QRVO) received the 2022 Golden Supplier Award from HONOR for excellence in performance and collaboration. The award was presented to Qorvo's CEO Bob Bruggeworth on December 8, 2022, at the company's San Jose office. HONOR recognized Qorvo's support as a strategic supplier since its establishment in 2020, particularly in powering multiple 5G smartphones in 2022. HONOR's CPO indicated optimism for future collaboration as 5G technology expands. Bruggeworth expressed gratitude for the recognition, emphasizing Qorvo's commitment to exceeding HONOR's expectations with top-tier products and support.

Qorvo (Nasdaq: QRVO) has been awarded the 2022 title of Most Respected Public Semiconductor Company by the Global Semiconductor Alliance (GSA). This honor reflects Qorvo's excellence in innovation and customer commitment, with notable contributions in connectivity and power solutions over 30 years. Jodi Shelton, GSA president, praised Qorvo's advancements and growth potential, highlighting the company's recent acquisitions aimed at driving further innovation. The GSA represents about 70% of the $550 billion semiconductor industry, showcasing Qorvo's industry standing.

Qorvo (Nasdaq: QRVO) has secured multiple design wins with MediaTek, enhancing its leadership in 5G smartphones and mobile Wi-Fi technologies.

The collaborations include design integrations for Wi-Fi 6, 6E, and 7 in devices like smartphones and routers, alongside automotive solutions that enable 5G connectivity in upcoming vehicles. These innovations aim to improve safety and entertainment features in cars and enhance mobile connectivity performance.

Qorvo (Nasdaq: QRVO), a leader in connectivity and power solutions, announced its participation in the 6th Annual Wells Fargo TMT Summit on November 29, 2022, at 11:40 a.m. ET. Executives will present insights into the company’s innovative semiconductor solutions across various sectors, including consumer electronics and automotive.

A live webcast can be accessed on their Investor Relations website.

Forward-looking statements regarding the company's future performance are included, emphasizing the unpredictability of market conditions and operational risks.

Seagate Technology has appointed Robert Bruggeworth to its Board of Directors effective November 9, 2022. He will also join the Audit and Finance Committee. Bruggeworth brings over 20 years of executive leadership experience, including his role as CEO of Qorvo. He has held senior positions at AMP and has served on various boards including MSA Safety and the Semiconductor Industry Association. His extensive experience in technology and leadership is expected to enhance Seagate's strategic direction.

Qorvo (Nasdaq: QRVO) has entered a multi-year supply agreement with SK Siltron CSS for silicon carbide (SiC) wafers. This partnership aims to enhance domestic semiconductor supply chain resilience and cater to the growing demand in the automotive sector. SiC devices are noted for their efficiency, potentially increasing electric vehicle driving ranges by 5% to 10%. The collaboration underscores Qorvo's commitment to innovation in semiconductor solutions, particularly for electric vehicles.