Qorvo Inc Stock Price, News & Analysis

Qorvo (Nasdaq: QRVO) will hold a conference call on May 4, 2022, at 5:00 p.m. (ET) to discuss its fiscal 2022 fourth quarter financial results. Results will be released at approximately 4:00 p.m. (ET) the same day. The call can be accessed via the company's website and will be available for playback afterward. Qorvo specializes in RF solutions for various markets including 5G, IoT, and advanced wireless devices. The company emphasizes innovation and design wins to drive growth, despite risks from dependencies on large customers and market fluctuations.

Qorvo, Inc. (NASDAQ: QRVO) announced the departure of its Chief Financial Officer, Mark Murphy, effective April 18, 2022. He is leaving to join Micron Technology as CFO. In the interim, Grant Brown, the Vice President of Treasury, has been appointed as acting CFO. The company's guidance for the fiscal 2022 fourth quarter remains unchanged. Bob Bruggeworth, CEO, expressed gratitude for Murphy's contributions, highlighting the strength of Qorvo's finance team under his leadership.

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.