Qorvo Inc Stock Price, News & Analysis

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.

Qorvo (Nasdaq:QRVO) has announced a $2 billion share repurchase program approved by its Board of Directors. This initiative includes the remaining amount from a prior program that has now been terminated. The repurchases will occur in the open market or through negotiated transactions, contingent on market conditions and other factors. The program is not bound by a minimum share repurchase requirement or a fixed term, allowing for flexibility in execution.

Qorvo (Nasdaq: QRVO) announced its fiscal Q3 2023 results with revenue of $1.158 billion, a gross margin of 46.5%, and diluted EPS of $1.82. Non-GAAP results showed a gross margin of 49.2% and diluted EPS of $2.66. CEO Bob Bruggeworth highlighted a strong September quarter, despite adjusting for weakening market demand. The company is reducing inventory and expects Q4 revenue of $700 million to $750 million. The board approved a $2 billion share repurchase program to enhance shareholder value.

Qorvo (Nasdaq: QRVO) is set to hold a conference call on November 2, 2022, at 5:00 p.m. ET to discuss its fiscal 2023 second quarter financial results. The results will be available at approximately 4:00 p.m. ET on the same day. Investors can access the live webcast through Qorvo's Investor Relations website. A playback of the call will be available post-event until November 9, 2022. Qorvo specializes in semiconductor solutions across various sectors, including consumer electronics and automotive.

Qorvo (Nasdaq: QRVO), a leader in RF solutions, announced its executives will present at the Goldman Sachs 2022 Communacopia + Technology Conference on September 13, 2022, at 2:30 p.m. ET. A live webcast of the event can be accessed via their website. Qorvo specializes in semiconductor solutions for diverse markets, including consumer electronics, automotive, and healthcare, aiming to solve complex technical challenges. Their innovative approach supports sectors like IoT, EVs, and aerospace.

Qorvo (Nasdaq: QRVO) announced the appointment of Grant Brown as chief financial officer, effective August 29, 2022, after previously serving as interim CFO since April 18, 2022. Brown, with extensive finance experience and knowledge of Qorvo’s strategic vision, is expected to contribute significantly to the company's growth and profitability. Bob Bruggeworth, CEO, expressed confidence in Brown's capabilities, highlighting his long-standing contributions to the company.

Qorvo (Nasdaq: QRVO) has launched the QPA2511, a high-gain 100 watt L-band power amplifier module designed for commercial and defense radar applications. This GaN-on-SiC PAM boasts a 60% power added efficiency while occupying 70% less space than traditional solutions, resulting in reduced power consumption. The module features a robust surface mount package that enhances system design and manufacturing reliability. Qorvo's extensive experience in defense programs positions it as a preferred vendor in the radar manufacturer sector.

Qorvo (Nasdaq: QRVO) has launched the QPD1034, a 1700 watt high power RF GaN pallet designed for TACAN and DME applications in air traffic control. The QPD1034 operates in the frequency range of 960 to 1,215 MHz, featuring 16dB of gain and 62% drain efficiency. This product aims to meet the increasing demand for modular, scalable, and reliable RF solutions manufactured in the U.S. Doug Cole, Qorvo's Defense and Aerospace GM, emphasized the company's commitment to quality and reliability.