Qorvo Inc Dossier
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SectorInformation Technology IndustrySemiconductors Beta (adjusted)1.30 Intrinsic Value $87.69median of 6 methods · middle span $69-$137based on filings through 28 Mar 2026 Market Price $112.21Price as of 1 Oct 2026 OvervaluedIntrinsic value is 22% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $9.9B Enterprise Value $10.2B Shares Outstanding 93.5M diluted Moat Rating None Next Earnings Date9 Nov 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Qorvo is currently in a transitional phase defined by its pending $22 billion cash-and-stock merger with Skyworks Solutions, Inc., which was announced in October 2025 and is expected to close in early calendar year 2027. Operationally, the company is executing well on its strategic mix shift, reducing exposure to lower-margin mass-market Android smartphones and expanding its high-margin High Performance Analog (HPA) and Connectivity and Sensors Group (CSG) segments. This shift drove significant gross margin expansion in fiscal 2026. However, because Qorvo has discontinued conducting conference calls and providing forward-looking guidance due to the pending merger, and because the transaction faces regulatory scrutiny (such as the FTC's Second Request), the stock is highly tied to merger arbitrage dynamics. A 'Hold' recommendation reflects the balanced risk-reward profile of the steady operational improvements against the regulatory and integration risks of the upcoming combination. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$66.00 Mean target$90.77 High · most bullish analyst$105.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario The FTC or international regulators block the merger, or impose highly restrictive divestiture conditions that erode the transaction's strategic value. Operational performance is pressured by market share losses in key smartphone RF components or prolonged weakness in the Android market, leading to flat or declining revenue. Base CaseCentral scenario The merger with Skyworks Solutions proceeds as planned, closing in early calendar year 2027. Qorvo continues to expand its non-GAAP gross margins toward its target of over 50% and achieves non-GAAP EPS approaching $7.00 in fiscal 2027. The combined company successfully integrates, realizing the targeted $500 million in annual cost synergies within 24 to 36 months post-close. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
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Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |