Qorvo Inc (QRVO) PT Lowered to $100 at Susquehanna

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Go back to Qorvo Inc (QRVO) PT Lowered to $100 at Susquehanna

Qorvo (QRVO) Stock Falls on Guide Down, Analysts Expect Headwinds to Continue

August 4, 2022 7:31 AM EDT

Shares of Qorvo (NASDAQ: QRVO) are down about 4% in premarket Thursday after the chipmaker lowered guidance for the second quarter.

For its first quarter, Qorvo reported an adjusted EPS of $2.25 on revenue of $1.04 billion to beat analyst expectations of $2.11 on sales of $1.02 billion. Qorvo reported an adjusted gross margin and adjusted operating margin of 50% and 27.5%, respectively.

For this quarter, the company sees an adjusted EPS of $2.45 to... More