Qorvo Inc Stock Price, News & Analysis

Qorvo (Nasdaq: QRVO) announced that recent studies confirm the effectiveness of the Qorvo Omnia SARS-CoV-2 Antigen Test in detecting circulating SARS-CoV-2 variants, including Delta. One study was led by Emory University and Georgia Institute of Technology for the NIH RADx initiative, while the other was conducted internally by Qorvo. The Omnia Test utilizes advanced BAW sensor technology for rapid results. Qorvo continues to validate the test’s efficacy amidst ongoing COVID-19 challenges, reinforcing its commitment to combating the pandemic.

Qorvo (Nasdaq: QRVO) has acquired United Silicon Carbide (UnitedSiC), a key player in silicon carbide power semiconductors, based in Princeton, NJ. This acquisition aims to enhance Qorvo's capabilities in the rapidly growing electric vehicle (EV) and industrial power markets. UnitedSiC's extensive product portfolio includes over 80 devices, notably its latest Generation 4 SiC FETs, which boast industry-leading performance. The integration is expected to bolster Qorvo's Infrastructure & Defense Products segment and expand its market opportunities for high-power applications.

Qorvo (NASDAQ: QRVO) announced the appointment of Philip Chesley as president of its Infrastructure & Defense Products segment, effective November 1, 2021. Chesley succeeds James Klein, who is retiring. He brings extensive experience from leading technology companies, including Renesas and Intersil. CEO Bob Bruggeworth expressed confidence in Chesley's leadership to drive growth in Qorvo’s diverse business. The transition highlights the company's commitment to enhancing its position in important markets.

On November 3, 2021, Qorvo (Nasdaq:QRVO) reported its fiscal 2022 Q2 results, achieving a revenue of $1.255 billion, up from $1.110 billion in the previous quarter. The gross margin was 49.5%, with diluted EPS at $2.84 on a GAAP basis. Non-GAAP metrics showed gross margin at 52.4% and diluted EPS of $3.42. Despite a strong performance, the company anticipates a sequential revenue decrease in Q3 due to global smartphone demand challenges. Full fiscal year 2022 growth is projected at 15% with a gross margin exceeding 52%.

Qorvo (Nasdaq: QRVO) will hold a conference call to discuss its fiscal 2022 second quarter financial results on November 3, 2021, at 5:00 p.m. ET. The results will be released at approximately 4:00 p.m. ET the same day. Participants can access the live webcast on Qorvo's website or listen to a playback through a provided phone number. The company emphasizes its focus on innovative RF solutions across various high-growth market segments, including advanced wireless devices and 5G networks, while highlighting the risks associated with market dependence and external economic factors.

Qorvo (Nasdaq: QRVO) announced its participation in the Citi 2021 Global Technology Virtual Conference on September 13, 2021, at 9:40 a.m. ET. The event will feature executive presentations focused on Qorvo's innovative RF solutions that enhance connectivity worldwide. Interested parties can access the live webcast on the Qorvo website under the 'Investors' section. The company is recognized for its leadership in advanced wireless technology, contributing to sectors such as 5G, cloud computing, and the Internet of Things.

Qorvo (Nasdaq:QRVO) reported fiscal Q2 2022 results ending July 3, 2021, with revenue of $1.110 billion and a gross margin of 49.2%. Operating income was $297 million and diluted EPS reached $2.51 on a GAAP basis. Non-GAAP figures showed a gross margin of 52.5%, operating income of $367 million, and diluted EPS of $2.83. Outlook for Q3 projects revenue between $1.235 billion and $1.265 billion, with a non-GAAP gross margin above 52%.

Qorvo (QRVO) announced a significant milestone for its Omnia SARS-CoV-2 Antigen Test through independent studies by the NIH RADx initiative. The studies achieved 100% sensitivity/specificity in adults and 83% sensitivity with 100% specificity for pediatric samples. Results were available within 20 minutes, leveraging high-frequency BAW sensors for rapid testing. The test received Emergency Use Authorization from the FDA in April 2021, aimed at detecting SARS-CoV-2 in nasal swabs. This advancement reflects Qorvo's commitment to improving diagnostic capabilities.

Qorvo (Nasdaq: QRVO) will host a conference call to review its fiscal 2022 first quarter results on August 4, 2021, at 5:00 p.m. ET. The call will be available live on their website, with a playback accessible two hours post-call until August 11, 2021. Financial results will be released at 4:00 p.m. ET on the same day. Qorvo specializes in RF solutions and serves several high-growth markets including 5G and IoT. Investors are encouraged to tune in for insights into the company's financial performance and outlook.