Qorvo Inc (QRVO) PT Lowered to $220 at Wells Fargo

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Go back to Qorvo Inc (QRVO) PT Lowered to $220 at Wells Fargo

Qorvo (QRVO) Stock Plunges on Disappointing Outlook and Commentary, Earns Two Downgrades as Analysts See Further Growth Moderation in 2022

November 4, 2021 8:16 AM EDT

Shares of Qorvo (NASDAQ: QRVO) are down over 9% in pre-open Thursday after the company presented a weak outlook for the current quarter.

Qorvo reported an FQ2 EPS of $3.42 to beat the analyst estimate of $3.25. Revenue for the quarter came in at $1.26 billion versus the consensus estimate of $1.25 billion.

Qorvo delivered a strong September quarter and is executing well. We are sustaining investments in highly differentiated technologies and best-in-class products to extend our leadership and drive growth. After the quarter closed, Qorvo acquired United Silicon Carbide, an innovator in silicon carbide power... More