What’s Driving The Sell-Off In Qorvo Shares?

• Qorvo expects quarterly revenue of approximately $800 million, plus or minus $25 million, in its fourth quarter, well below the Wall Street estimate of $905 million. 
• The company said during the third quarter each of its operating segments grew revenue year-over-year, with notable strength in automotive components, consumer and enterprise Wi-Fi. 
• Qorvo said revenue for its fiscal 2026 third quarter was $993 million, beating analyst estimates of $984 million. 

Shares of Qorvo down 10% in extended hours of trading after its outlook for its fourth quarter ending March 31 disappointed investors. 

The company said it expects quarterly revenue of approximately $800 million, plus or minus $25 million, in its fourth quarter, well below the Wall Street estimates of $905 million, according to data from fiscal.ai. 

Its expectations of adjusted profit per share of $1.20, plus or minus 15 cents, for the fourth quarter also missed analyst estimates. Analysts on average were expecting profit of $1.37 per share. 

“Looking forward, our March quarterly outlook reflects the seasonal decline at our largest customer, the ongoing strategic resizing of our Android business, and continued strength in HPA," said CEO Bob Bruggeworth.

Robust Q3 Earnings

Qorvo said revenue for its fiscal 2026 third quarter was $993 million and beat analyst estimates of $984 million, on robust demand in its automotive components, consumer and enterprise Wi-Fi segment. 

"Qorvo's December quarterly revenue primarily reflects strength at our largest customer. Each of our operating segments grew revenue year-over-year, with notable strength in automotive components, consumer and enterprise Wi-Fi, D&A, base station, and power management,” ," said Bruggeworth. 

On an adjusted basis, Qorvo’s diluted earnings per share was $2.17, which sailed past analyst estimates of $1.93 per share. 

"Qorvo’s fiscal third quarter revenue, non-GAAP gross margin, and non-GAAP EPS all compared favorably to guidance. We continue to execute on cost and productivity initiatives to structurally enhance our gross and operating margins,” said CFO Grant Brown. 

How Did Stocktwits Users React?

Retail sentiment around QRVO trended in the ‘bullish’ territory amid ‘high’ message volume on Stocktwits. 

One bearish user predicted the stock to hit the $60 price mark.

Shares in the company have fallen 8% over the past 12 months. 
 

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