QRVO Should I Buy
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Qorvo Inc (QRVO) is not a strong buy at the moment for a beginner investor with a long-term strategy. While the company has shown strong financial performance in the latest quarter, the weak outlook for the March quarter, declining Android revenues, and lack of significant positive catalysts make it prudent to hold off on investing right now. The technical indicators and options data also do not suggest a compelling entry point.
The MACD is slightly positive at 0.0191, indicating mild bullish momentum, but it is contracting. RSI is neutral at 47.109, suggesting no clear overbought or oversold conditions. Moving averages are converging, which reflects indecision in the market. The stock is trading near its support level of 81.03, with resistance at 85.217. Overall, the technical indicators do not signal a strong buy opportunity.
The company reported strong financial performance in Q3 2026, with revenue up 8.36% YoY, net income up 297.52% YoY, and EPS up 306.98% YoY. Gross margin also improved to 46.65%. The aerospace and defense business showed growth, and iPhone momentum contributed positively.
The company provided a weak outlook for the March quarter, with revenues expected to decline 19% QoQ due to the exit from the low-tier Android business and challenges in the handset market. Analysts have broadly lowered price targets, reflecting cautious sentiment. Additionally, there is uncertainty surrounding the Skyworks merger timeline, which remains a key overhang.
In Q3 2026, Qorvo delivered strong financial results with revenue of $992.96M (up 8.36% YoY), net income of $164.06M (up 297.52% YoY), and EPS of $1.75 (up 306.98% YoY). Gross margin improved to 46.65% (up 7.32% YoY). However, the weak guidance for the March quarter overshadows these results.
Analysts have broadly lowered price targets, with the majority maintaining Neutral or Hold ratings. The average price target is now in the range of $80-$90, reflecting cautious sentiment due to the weak outlook for the March quarter and challenges in the mobile business. Only one analyst (Craig-Hallum) maintains a Buy rating, with a reduced price target of $95.
