-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
QRVO posted Mar-Q revenue of $808.3M (-19% Q/Q, -7% Y/Y) and non-GAAP EPS of $1.69, beating expectations of $802M and $1.01, respectively. Non-GAAP gross margin reached 52.6% (+350 bps Q/Q, +670 bps Y/Y), significantly exceeding the 48.5% expectation, demonstrating exceptional margin expansion despite revenue headwinds from Apple seasonality and Android exit. The strong performance underscores effectiveness of strategic cost optimization and product mix improvements. Management maintained its FY 27 targets of non-GAAP gross margin above 50% and EPS approaching $7.00, indicating confidence in sustainability of improvements. High Performance Analog delivered solid results with revenue of $202.7M (+6% Q/Q, +8% Y/Y) and operating margin of 34.7%, driven by automotive and defense strength. The company generated $255M in free cash flow and executed $400M in share repurchases, demonstrating management's confidence while awaiting the pending Skyworks Solutions Inc. (SWKS 73 ***) acquisition.