Qorvo Inc Stock Price, News & Analysis

Qorvo (Nasdaq: QRVO) announced its participation in the Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022, at 8:40 a.m. Eastern Time. The event will be webcast live, accessible via Qorvo's website under the 'Investors' section.

Qorvo specializes in Radio Frequency solutions and plays a critical role in sectors like advanced wireless devices, networks, and defense communications. The company is committed to advancing technologies such as 5G and the Internet of Things, enhancing global connectivity.

Qorvo (Nasdaq: QRVO) has received a $4.1 million follow-on contract from the National Institutes of Health (NIH) as part of the Rapid Acceleration of Diagnostics (RADx) initiative. This contract will support the clinical trials and market launch of innovative COVID-19 testing solutions, including a SARS-CoV-2/Flu Combo Assay and an Antigen Pooling application on the Qorvo Omnia™ diagnostic test platform. This award follows a previous NIH contract of $24.4 million, enabling Qorvo to enhance its COVID testing capabilities.

Qorvo (Nasdaq: QRVO) reported fiscal Q3 2022 results with revenue of $1.114 billion, a gross margin of 49.2%, and diluted EPS of $1.95 on a GAAP basis. Non-GAAP results showed a gross margin of 52.6% and diluted EPS of $2.98. The company exceeded revenue guidance, driven by growth in 5G, IoT, and defense markets. For Q4, Qorvo expects revenue between $1.135 billion and $1.165 billion and a non-GAAP EPS of $2.94. The outlook reflects strong smartphone launches and IDP volume growth.

Qorvo (Nasdaq: QRVO) will host a conference call on February 2, 2022, at 5:00 p.m. (ET) to discuss its fiscal 2022 third quarter financial results, with results released around 4:00 p.m. the same day. The event will be webcast on Qorvo's website. A playback will be available shortly after the call via telephone until February 9, 2022. Qorvo is recognized for its innovative RF solutions, supporting sectors such as 5G networks and IoT, thereby connecting various technologies globally.

Qorvo (Nasdaq: QRVO) has launched its first wideband Wi-Fi front-end module, the QPF4730, supporting 5.1 GHz to 7.1 GHz bands designed for enterprise Wi-Fi 6 and Wi-Fi 6E solutions. The QPF4730 enhances system performance and capacity while minimizing board space for upgrades. It is optimized for Power over Ethernet (PoE) and improves Quality of Service (QoS), suitable for home, campus, and enterprise environments. This innovation represents Qorvo’s commitment to advancing connectivity technologies.

Qorvo announces its provision of Ultra-Wideband (UWB) technology for Google's Pixel 6 Pro smartphone, marking a significant milestone in the Android ecosystem. The DW3720 UWB solution enhances various applications, including location tracking and secure financial transactions. Eric Creviston, president of Qorvo Mobile Products, highlights the collaboration with Google, aiming to establish UWB as a key technology across mobile and IoT devices. The UWB solution adheres to IEEE standards, ensuring interoperability within the growing UWB ecosystem.

Qorvo (Nasdaq: QRVO) successfully completed a $500 million offering of senior notes due December 15, 2024, with a 1.750% interest rate payable semi-annually. Funds from this offering will be utilized to fully repay a term loan and for general corporate purposes. The notes are senior unsecured obligations and are guaranteed by Qorvo's wholly-owned U.S. subsidiaries. The issuance complies with Rule 144A and Regulation S under the Securities Act of 1933, and no registration is required for their sale in the U.S.

Qorvo (Nasdaq: QRVO) announced a $500 million offering of senior notes maturing in 2024, with a 1.750% interest rate, set to close around December 14, 2021. The funds will be used to repay part of its term loan and for general corporate purposes. The notes are senior unsecured obligations and will not be registered under the Securities Act. The offering targets qualified institutional buyers and certain non-U.S. persons.

The press release includes forward-looking statements with various risks and uncertainties that could impact Qorvo's financial results.

Qorvo (Nasdaq: QRVO) has announced a proposed offering of senior notes aimed at qualified institutional buyers and certain non-U.S. persons. The funds raised will primarily be used to repay a portion of its term loan and for general corporate purposes. The notes will not be registered under the Securities Act, indicating a private placement. This financial maneuver underscores Qorvo's strategy to manage its debt effectively while supporting its ongoing operations and market position.