Qorvo is a semiconductor company with exceptional free cash flow conversion of 164% and a strong 3-for-4 earnings beat record, but a critical customer concentration of 50% with Apple Inc., declining revenue of -7%, and a stock trading above its analyst price target combine to eliminate the near-term investment case.
Thesis pillars
- Apple Customer Concentration Risk↑Improving
- Superior Cash Conversion Quality→Stable
- Analyst Target Already Surpassed↑Improving
- +1 more pillar — see the Why tab for full reasoning
Qorvo, Inc. (QRVO) Stock Analysis
Catalyst-Driven edge
Technology · Semiconductors
Sell if holding. Analyst target reached at $85.50 — A.R:R is negative (-1.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: Apple Inc. (50.0%).
Qorvo makes RF, power management, and connectivity semiconductor products across HPA (defense/infrastructure), CSG (IoT connectivity), and ACG (mobile cellular) segments. Apple alone accounted for 50% of fiscal 2026 revenue through contract manufacturers, with Samsung adding... Read more
Sell if holding. Analyst target reached at $85.50 — A.R:R is negative (-1.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: Apple Inc. (50.0%). Chart setup: No clear chart pattern; technical signals are mixed. Score 4.9/10, moderate confidence.
Passes 4/8 gates (no SEC red flags, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio and clean insider activity. Suitability: aggressive.
Recent developments
updated 2026-07-20Recent Developments — Qorvo, Inc.
Latest news
- NEWS Cwm LLC Sells 17,428 Shares of Qorvo, Inc. $QRVO - MarketBeat — MarketBeat neutral
- NEWS Barclays upgrades Qorvo (QRVO) - MSN — MSN positive
- NEWS Barclays upgrades Qorvo (QRVO) - msn.com — msn.com positive
- NEWS QRVO Upgraded by Barclays -- Price Target Raised to $100 - GuruFocus — GuruFocus positive
- NEWS Qorvo, Skyworks Solutions, Seagate upped at Barclays; Qualcomm downgraded (QRVO:NASDAQ) - Seeking Alpha — Seeking Alpha negative
Generated 2026-07-20T05:32:11Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Concentration Risks(10-K Item 1A)
- HIGHCustomerApple Inc.50%10-K Item 1: 'Apple Inc. ("Apple")... accounted for 50% and 47% of total revenue in fiscal years 2026 and 2025'
- LOWCustomerSamsung Electronics10%10-K Item 1: 'Samsung Electronics Co., Ltd. ("Samsung") accounted for 10% of total revenue in both fiscal years 2026 and 2025.'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
2 floor-breakers
Revenue shrinking — -7.0% YoY. Growth thesis broken unless recovery story develops.static
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $85.50 — A.R:R is negative (-1.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: Apple Inc. (50.0%). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $79.74. Score 4.9/10, moderate confidence.
Take-profit target: $102.55 (-6.9% upside). Prior stop was $79.74. Stop-loss: $79.74.
Concentration risk — Customer: Apple Inc. (50.0%); Analyst target reached - limited upside remaining; Weak overall score: 4.9/10.
Qorvo, Inc. trades at a P/E of 23.6 (forward 10.9). TrendMatrix value score: 6.9/10. Verdict: Sell.
26 analysts cover QRVO with a consensus score of 2.8/5. Average price target: $91.
What does Qorvo, Inc. do?Qorvo makes RF, power management, and connectivity semiconductor products across HPA (defense/infrastructure), CSG (IoT...
Qorvo makes RF, power management, and connectivity semiconductor products across HPA (defense/infrastructure), CSG (IoT connectivity), and ACG (mobile cellular) segments. Apple alone accounted for 50% of fiscal 2026 revenue through contract manufacturers, with Samsung adding 10%. A merger with Skyworks Solutions, approved by stockholders in February 2026, is pending regulatory clearance with expected close in early calendar year 2027.