Qorvo shares hit near 8-month low on weak Q4 forecast; brokerages cut PT
28/01/2026 14:50
Updates ** Shares of Qorvo QRVO.O decline 6.2% to $77.83 after the chipmaker forecasts Q4 revenue and profit below Wall Street estimates ** The stock hits its lowest since June 2025 ** At least four brokerages cut PT on the stock ** Brokerages say QRVO is simultaneously losing Apple AAPL.O share and rapidly shrinking its Android business, which could result in declining revenues ** "QRVO is being forced to take the plunge in near-term revenues in order to exit its lower-end Android businesses," says Piper Sandler ** "QRVO is experiencing share loss in the ultra-high band pads at its largest customer in upcoming phone models" - Piper Sandler ** Shares of larger rival Skyworks Solutions SWKS.O also plunge 7% to $55.92- hitting its lowest since April 2025; SWKS is in the process of acquiring QRVO ** Four of 25 brokerages rate QRVO "buy" or higher, 21 "hold"; their median PT is $86 - data compiled by LSEG ** Including session's moves, QRVO down about 8% YTD, following a 20.8% rise in 2025 (Reporting by Ragini Mathur in Bengaluru) ((Ragini.Mathur@thomsonreuters.com;))