Qorvo, Inc.

The grade, in three tenses

Headline 5.5 out of ten, 9 of 9 metrics filed: past 4.5 out of ten, present 6.4 out of ten, future 5.1 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

• Surviving crises (past): 1.9 out of ten. 2 warning events since 2017; the latest 2026-10-05. 19th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Track record (past): 4.6 out of ten. +2.7% a year over 9 filed years; profitable in 7 of 9. 46th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Shareholder treatment (past): 8.3 out of ten. Share count shrank 3.2% a year. 57% of cash flow returned. Insiders: 34 sales, 0 purchases. 83rd percentile among 67 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Financial health (present): 6.8 out of ten. ROE 10%: 10¢ of profit per shareholder dollar. Leverage 43%: owes 43¢ per asset dollar. 69th percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Industry position (present): 6.6 out of ten. top 34% of 97 in its family; net margin 9.2%. 66th percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Leadership (present): 5.3 out of ten. top 47% of 66 in its family for leadership; chief executive since 2015. 53rd percentile among 66 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
• Room to expand (future): 5.3 out of ten. top 47% of 94 in its family for room to expand. 53rd percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Growth drivers (future): 4.1 out of ten. bottom 41% of 93 in its family for growth drivers. 41st percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Expectations vs reality (future): 6.2 out of ten. top 38% of 88 in its family for expectations against reality. 62nd percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 10-K filed 2026-05-08 for the period ended 2026-03-28 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-07-28 for the period ended 2026-06-27 (on EDGAR). Newest results release: Form 8-K filed 2026-07-28 (on EDGAR). Newest filing: Form S-8 POS, 2026-10-09. Filings on record since 2014. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 10-K filed 2026-05-08.

The people

Robert A. Bruggeworth has been president, chief executive and a director since Qorvo was incorporated in December 2013, and he ran one of its two predecessors before that: he was president and chief executive of RF Micro Devices, known as RFMD, from January 2003 until January 2015, after joining it in senior management posts in September 1999. Qorvo itself was formed by the combination of RF Micro Devices and TriQuint Semiconductor, which closed on January 1, 2015. Earlier, from July 1983 to April 1999, he held manufacturing and engineering jobs at AMP Inc., now TE Connectivity, a maker of electrical and electronic connection devices, latterly running its global computer and consumer electronics division from Hong Kong. [1, 2, 3, 4]

Six other executive officers are named. Grant A. Brown has been chief financial officer since August 2022, after acting in the job from April 2022; before Qorvo existed he was in investor relations at TriQuint. Philip J. Chesley has run High Performance Analog since July 2022, having joined in November 2021 from Renesas Electronics, where he led an industrial and communications business unit. Steven E. Creviston has run Connectivity and Sensors since July 2022 and led Mobile Products from January 2015, after heading RFMD's cellular products group from August 2007. Paul J. Fego has led global operations since July 2018, after running Texas Instruments' wafer fabrication, assembly and test operations in nine countries from January 2005 through August 2017. Frank P. Stewart has led Advanced Cellular since July 2022 and joined RFMD in 2001, once its account manager for the Nokia product line. Gina B. Harrison has been corporate controller since November 2015. [5, 6, 7, 8, 9, 10, 11, 12, 13]

The board runs to ten members, every one of them independent except the chief executive. Dr. Walden C. Rhines, a director since January 2015, has been chair and lead independent director since November 2023; he was chief executive of Mentor Graphics from 1993 and its chairman from 2000 until Siemens bought it in 2017. The board has turned over fast. Three independent directors joined in fiscal 2026, Richard L. Clemmer, chief executive of NXP Semiconductors from 2009 to May 2020, Christopher R. Koopmans, president and chief operating officer of Marvell Technology since July 2025, and Peter A. Feld, while David H.Y. Ho stepped down; Alan S. Lowe, chief executive of Lumentum from July 2015 until February 2025, joined in fiscal 2025, when the former chair Ralph G. Quinsey retired. Feld came from an activist investor: the annual report records that a representative of Starboard Value L.P. was nominated and elected to the board at the August 2025 annual meeting, and the proxy statement's ownership table puts Starboard's affiliated funds at 6.36% of the shares. [14, 15, 16, 17, 18, 19, 20, 21, 22, 23]

Qorvo employed about 5,200 full and part time people in 23 countries at the end of fiscal 2026. Three in four work in the Americas, 14% in Europe and 11% in Asia, and about 68% are in engineering or technician roles. On the insider record this site holds, 25 people have filed as officers or directors since 2015, 16 of them within the last fifteen months. [24, 25]

How it operates

Qorvo designs radio frequency chips, the parts that let a device send and receive radio signals, along with analog mixed signal and power management chips, which turn real world signals into numbers and control the flow of electricity. It is organised in three segments: High Performance Analog, which it describes as a supplier of radio frequency, analog mixed signal and power management products; the Connectivity and Sensors Group, covering ultra wideband, Matter, Bluetooth Low Energy, Zigbee, Thread, Wi-Fi and cellular chips for connected devices; and the Advanced Cellular Group, which supplies cellular parts for smartphones, wearables, laptops and tablets. Six end markets are named: automotive, consumer, defense and aerospace, industrial and enterprise, infrastructure and mobile. In a phone its parts are the radio frequency modules, envelope tracking power management chips, antenna tuners, filters and switches that sit between the modem and the antenna. [26, 27, 28, 29]

The business runs through a few very large buyers. Apple is the largest end customer, supplied through several contract manufacturers whose purchases together came to 50% of revenue in fiscal 2026 and 47% the year before, and 46% the year before that; Samsung came to 10% in each of the last two years, down from 12%, and the filing says both buy mainly radio frequency products for mobile devices from the Advanced Cellular Group. The two largest end customers together accounted for about 59% of revenue in fiscal 2026, 57% in 2025 and 58% in 2024. Elsewhere it sells directly and through sales representative firms and distributors, and in defense and aerospace it supplies the US government, American defense primes and allied countries, including foundry and assembly services for other firms' own chip designs. Revenue moves with consumer demand for devices, the timing of customer device launches and large defense programs. [30, 31, 32, 33, 34, 35]

Revenue is counted by where a customer keeps its headquarters, not by where the parts are shipped. On that basis customers headquartered in the United States brought in 2.3 billion dollars in the year to March 2026, 63.0% of revenue and 4.0% more than a year earlier; China 474.9 million, 12.9% of revenue and 23.5% less; Other Asia 431.9 million, 11.7%; Taiwan 357.7 million, 9.7%; Europe 98.3 million, 2.7%. The company puts sales to customers located outside the United States at about 37% of revenue in fiscal 2026, of which about 13% went to customers located in China. [36, 37, 38]

Qorvo still owns factories for the parts it treats as special. In fiscal 2026 its wafer fabs for BAW, GaAs, GaN and SAW, the compound semiconductor and acoustic filter processes behind its highest frequency parts, were in North Carolina, Oregon and Texas, and its own assembly plants were in Costa Rica, Germany and the United States. Silicon based processes, SOI, SiGe and bulk CMOS, come from foundries around the world, and the company says it ships millions of units a day. Raw materials include silicon, substrates, gallium nitride on silicon carbide wafers, gallium arsenide wafers, lithium niobate and lithium tantalate. The stated strategy is to make in house only the most differentiated elements and to leave the rest to outside partners. It closed the Costa Rica assembly and test plant in the third quarter of fiscal 2026 and sold the North Carolina fab in the fourth, buying from the new owner under a short term supply agreement until SAW filter production moves to Texas; the filing says these steps, with the earlier sale of assembly and test operations in China, have increased its reliance on third parties. [39, 40, 41, 42, 43, 44, 45, 46]

The specifics

Qorvo is itself a merger: RF Micro Devices and TriQuint Semiconductor combined on January 1, 2015. Since fiscal 2025 it has been cutting back rather than adding. It set out to reduce operating expenses and streamline its manufacturing footprint, cut the workforce tied to its mass market Android business, sold its silicon carbide power device business, cancelled multiyear projects to replace its core business systems and looked for a buyer for its MEMS based sensing business, which it sold in the third quarter of fiscal 2026 for a gain of 19.2 million dollars. Goodwill and intangible assets were written down again in fiscal 2026 after forecasts were revised for a reporting unit inside the Connectivity and Sensors Group. [3, 47, 48, 49]

The company has agreed to be bought. On October 27, 2025 it signed a merger agreement with Skyworks Solutions, one of the rivals it names in two of its three segments, under which Qorvo would survive as a wholly owned subsidiary of Skyworks; its stockholders would take Skyworks shares and cash and would hold about 37% of the combined company against 63% for Skyworks holders, and Qorvo stock would be delisted from Nasdaq and deregistered. Both sets of stockholders approved on February 11, 2026. Six days earlier the Federal Trade Commission had issued a second request for information, which holds the antitrust waiting period open until 30 days after both companies comply. If the agreement is terminated in specified circumstances either side may owe the other 298.7 million dollars, and Skyworks would owe 100.0 million dollars if it falls to an antitrust or foreign investment block. The annual report said the company anticipated completion early in calendar year 2027; the quarterly report filed in July 2026 said it was increasingly hopeful of closing within the calendar year, with no assurance. [50, 51, 52, 53, 54, 55, 56, 57, 58]

What Qorvo keeps in house is process technology. It has developed and manufactures several generations of gallium arsenide and gallium nitride processes, which carry high power and high frequency signals better than ordinary silicon, and bulk and surface acoustic wave filters, the parts that pick one radio band out of the crowd. It also owns its flip chip, wire bond and wafer level packaging methods. Its Richardson, Texas plant sells gallium nitride and gallium arsenide foundry and assembly services and is accredited a Category 1A Trusted Source by the US Department of Defense, covering design, wafer fabrication, post processing, packaging, assembly and testing. The company counts about 2,700 patents expiring between 2026 and 2044, and says the business as a whole does not depend significantly on any particular patent. [59, 60, 61, 62, 63]

Competitors are named segment by segment: Analog Devices, Axiro Semiconductor, MACOM, Monolithic Power Systems, Renesas, Mini-Circuits, Silergy and Texas Instruments in High Performance Analog; Broadcom, Murata, Nordic Semiconductor, NXP, Qualcomm, RichWave, Silicon Laboratories, Skyworks and Vanchip in connectivity; Broadcom, Maxscend, Murata, Qualcomm, Skyworks and Vanchip in advanced cellular. Two other pressures sit behind that list. Some of its largest end customers and platform partners design and make competing parts themselves, and the chipset suppliers whose reference designs its products slot into have been building more of the radio front end into their own offerings. Trade rules press from both sides: US export restrictions have banned American companies from selling to certain of its customers, and tariffs are raising the cost of the foreign components and equipment it imports into its American plants. [64, 65, 66, 67, 68, 69]

What drives growth, line by line

Revenue fell 1.1% in fiscal 2026 to 3,678.5 million dollars from 3,719.0 million, still well below the 4.6 billion of fiscal 2022, as falls at Advanced Cellular and Connectivity and Sensors outweighed a gain at High Performance Analog. What changed was the quality of the revenue rather than its size. Gross margin rose to 45.9% from 41.3%, which the company credits to pulling back from lower margin mass market Android smartphones and to a better mix in High Performance Analog, and operating income rose to 411.4 million dollars from 95.5 million on that margin and on smaller impairment charges. [70, 71, 72, 73]

Advanced Cellular Group. Much the largest of the three, more than two thirds of revenue, and the one the company is deliberately shrinking. Revenue fell 2.2%, by 58.0 million dollars, as products in the Android ecosystem lost ground and more content in flagship and premium phones filled part of the gap, which the filing ties to its decision to cut exposure to mass market Android and narrow its focus to the top tiers. Profit went the other way: operating income equal to 26.2% of the segment's revenue against 23.1% a year earlier, helped by mix and by 29.7 million dollars less operating expense as Android development was cut back. Apple and Samsung, the customers at about 50% and 10% of company revenue, buy mainly from this segment. [74, 75, 76, 77, 31]

High Performance Analog. The one line that grew, and the only one where defense money shows up: revenue up 10.7%, by 68.4 million dollars, to nearly a fifth of the company total. The filing credits 108.3 million dollars of increased content and programs in defense and aerospace, the cable industry's move to DOCSIS 4.0 broadband and higher demand for base station parts, less 27.7 million dollars that went with the silicon carbide power business sold in January 2025 and 9.0 million dollars of weaker power management demand from customers whose products tariffs have hit. Segment operating income reached 26.8% of its revenue, against 17.1%. [78, 75, 79, 80]

Connectivity and Sensors Group. The smallest line, a little over a tenth of revenue, and the only one that loses money. Revenue fell 10.8%, by 50.9 million dollars, as Wi-Fi components and ultra wideband sales dropped by 48.7 million dollars under a decision to narrow the range to higher margin products. The operating loss narrowed to 10.0% of the segment's revenue from 11.8%, on better product costs, mix and 14.3 million dollars less operating expense, part of that from selling the MEMS based sensing business in October 2025, which had lost 9.9 million dollars in fiscal 2026 and 15.4 million in fiscal 2025. This is also the segment where revised forecasts for one reporting unit triggered the year's goodwill and intangible impairment. [81, 75, 82, 83, 49]

By where customers are headquartered, the money moved toward the United States: American customers brought 2.3 billion dollars, 4.0% more than a year earlier, while China fell 23.5% to 474.9 million, the sharpest fall of any region. Taiwan rose 4.9% to 357.7 million and Europe 14.5% to 98.3 million, while Other Asia slipped 2.8% to 431.9 million. [36]

The newest quarterly report, for the three months to June 27, 2026, sharpens the same pattern. Revenue fell 4.2% against the same quarter a year before, with Advanced Cellular down 94.7 million dollars on the same retreat from mass market Android and Connectivity and Sensors down 8.3 million, against 69.0 million more at High Performance Analog, 57.9 million of it from the defense and aerospace and infrastructure businesses. Gross margin reached 51.1% against 40.5%, and Connectivity and Sensors, which lost money through fiscal 2026, turned an operating profit. [84, 85, 86, 87, 88, 89]

What comes next, in the company's own words: the decision taken in fiscal 2025 to reduce exposure to mass market Android has already cut revenue and it expects that to continue; it anticipated in the annual report that the mergers with Skyworks would be completed early in calendar year 2027, and in the quarterly report filed in July 2026 said it was increasingly hopeful the transaction would close within the calendar year, subject to the closing conditions and with no assurance of that timeline. [90, 54, 58]

What the desk infers (inferred, not filed)

• The United States line in the revenue table is mostly Apple: Qorvo books its sales through Apple's contract manufacturers to a customer headquartered in America, which is why the American share is far larger than any American end market it describes. Because: Revenue is counted by the location of the customer's headquarters. [37] Apple, supplied through multiple contract manufacturers, accounted for 50% of revenue in fiscal 2026. [30] Customers headquartered in the United States accounted for 2.3 billion dollars, 63.0% of revenue. [36] All customers headquartered outside the United States together came to about 37% of revenue, less than Apple alone, so Apple's purchases cannot be sitting in the Taiwan line at 9.7% or the China line at 12.9%. [38, 36] Confidence 80 of 100. Wrong if: A filing or disclosure showing that revenue from Apple's contract manufacturers is attributed to those manufacturers' own headquarters rather than to the United States.
• Walking away from mass market Android phones has left Qorvo more concentrated on one customer, not less: the better margin came with a larger share of revenue resting on Apple. Because: Apple's share of revenue rose from 46% to 47% to 50% across fiscal 2024, 2025 and 2026, while Samsung's slipped from 12% to 10%. [31] The two largest end customers together came to 59% of revenue in fiscal 2026, against 57% and 58% in the two years before. [32] The fall in Advanced Cellular revenue was in Android ecosystem products, set against more content in flagship and premium phones, which the filing ties to its decision to reduce exposure to mass market Android. [76] Gross margin rose to 45.9% from 41.3% on that same strategy. [72] Confidence 75 of 100. Wrong if: A fiscal year in which Apple's share of total revenue falls while Advanced Cellular revenue grows, or a filing naming large new flagship wins outside Apple and Samsung.
• The drop in revenue from customers headquartered in China is mostly Qorvo's own retreat from mass market Android phones rather than ground lost to export rules or tariffs. Because: Revenue from customers headquartered in China fell 23.5% to 474.9 million dollars, the sharpest fall of any region, while the United States, Taiwan and Europe all grew. [36] The company puts the fall in Advanced Cellular revenue down to its own decision to reduce exposure to mass market Android smartphones. [76] It cut the workforce attached to the mass market Android business and 19.9 million dollars of product development costs for those phones. [47, 91] Its account of the year's revenue names the Android decision and the narrowing of Wi-Fi and ultra wideband, not export restrictions or lost customers. [75, 82] Confidence 60 of 100. Wrong if: A filing that attributes the fall in China revenue to export restrictions, tariffs or a design lost at a named Chinese customer, or one showing the Android reduction fell mainly on customers headquartered elsewhere.

Sources

1. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Mr. Bruggeworth has served as our President and Chief Executive Officer and as a director since Qorvo’s incorporation in December 2013.”
2. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Prior to becoming a director of Qorvo, he was RFMD’s President and Chief Executive Officer and a director from January 2003 until January 2015, having previously served in several senior management positions at RFMD beginning in September 1999.”
3. Qorvo, Inc., Form 10-K filed 2026-05-08: “Qorvo was formed as the result of a business combination (the "Business Combination") of RF Micro Devices, Inc. and TriQuint Semiconductor, Inc. ("TriQuint"), which closed on January 1, 2015.”
4. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “From July 1983 to April 1999, Mr. Bruggeworth held several manufacturing and engineering positions at AMP Inc. (now TE Connectivity plc), a supplier of electrical and electronic connection devices, most recently as Divisional Vice President of Global Computer and Consumer Electronics based in Hong Kong.”
5. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Grant A. Brown has served as Senior Vice President and Chief Financial Officer since August 2022, after having served as Qorvo’s interim Chief Financial Officer since April 2022.”
6. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Prior to the formation of Qorvo, he served as Director, Investor Relations, and Manager, Financial Planning & Analysis, at TriQuint, one of Qorvo’s predecessor entities.”
7. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Philip J. Chesley has served as Senior Vice President and President of High Performance Analog since July 2022, prior to which he served as Corporate Vice President and President of Qorvo’s Infrastructure and Defense Products (IDP) since joining Qorvo in November 2021.”
8. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Steven E. Creviston has served as Senior Vice President and President of Connectivity & Sensors since July 2022, prior to which he served as Corporate Vice President and President of Mobile Products since January 2015.”
9. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Mr. Creviston served as Corporate Vice President and President of Cellular Products Group, or CPG, for RFMD, one of Qorvo’s predecessor entities from August 2007 to January 2015.”
10. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Paul J. Fego has served as Senior Vice President and President of Global Operations since July 2022, prior to which he served as Corporate Vice President of Global Operations since July 2018. From January 2005 through August 2017, he served as Vice President and Manager, Worldwide Manufacturing Technology & Manufacturing Group of Texas Instruments, a leading global semiconductor and technology company, where he managed all of its wafer fabrication, assembly and test operations in nine countries.”
11. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Frank P. Stewart has served as Senior Vice President and President of Advanced Cellular since July 2022.”
12. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Mr. Stewart joined RFMD in 2001 and served as RFMD’s account manager for the Nokia Product Line, and previously as manager of Strategic Marketing.”
13. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Gina B. Harrison has served as Vice President and Corporate Controller since November 2015.”
14. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “To elect the following 10 director nominees, also named in this proxy statement to serve a one-year term and until her/his successor has been duly elected and qualified, or her/his earlier resignation or removal: Robert A. Bruggeworth, Judy Bruner, Richard L. Clemmer, Peter A. Feld, John R. Harding, Christopher R. Koopmans, Alan S. Lowe, Roderick D. Nelson, Dr. Walden C. Rhines and Susan L. Spradley.”
15. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “The Board has determined that Mr. Clemmer, Mr. Feld, Mr. Harding, Mr. Koopmans, Mr. Lowe, Mr. Nelson, Dr. Rhines, Ms. Bruner and Ms. Spradley each satisfy the definition of “independent director” under the Nasdaq listing standards.”
16. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Dr. Rhines has served as Chair of the Board and Lead Independent Director at the Company since November 2023 and has served on our Board of Directors since January 2015.”
17. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “He previously served as Chief Executive Officer of Mentor Graphics Corporation from 1993 and Chairman of its board of directors from 2000 until the acquisition of Mentor Graphics by Siemens in 2017.”
18. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “During fiscal 2026, three new independent directors joined our Board: Messrs. Clemmer, Feld and Koopmans, while Mr. David H.Y. Ho stepped down as a director. During fiscal 2025, we added Mr. Lowe to our Board, while our former Chair, Mr. Ralph G. Quinsey, retired from the Board.”
19. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Most recently, Mr. Clemmer served as the Chief Executive Officer and President of NXP Semiconductors N.V., a semiconductor company, from 2009 to May 2020.”
20. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Since July 2025, Mr. Koopmans has served as President and Chief Operating Officer at Marvell Technology, Inc., a publicly traded semiconductor company”
21. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “He served as President and Chief Executive Officer of Lumentum Holdings Inc. from July 2015 until February 2025.”
22. Qorvo, Inc., Form 10-K filed 2026-05-08: “For example, a representative of Starboard Value L.P. was nominated and elected to our board of directors at the Company’s Annual Meeting of Stockholders in August 2025.”
23. Qorvo, Inc., Form DEF 14A filed 2026-06-26: “Entities affiliated with Starboard Value LP (3) 5,611,526 6.36”
24. Qorvo, Inc., Form 10-K filed 2026-05-08: “As of March 28, 2026, we employed approximately 5,200 full and part-time employees in 23 countries. By region, approximately 75% of our total employees were in the Americas, 14% were in Europe and 11% were in Asia. Engineering or technician roles comprise approximately 68% of our global workforce.”
25. The record on this page: the officers and directors who file Forms 3, 4 and 5 (the SEC's insider data sets)
26. Qorvo, Inc., Form 10-K filed 2026-05-08: “We are organized into three operating and reportable segments that align our technologies and applications with customers and end markets: High Performance Analog ("HPA"), Connectivity and Sensors Group ("CSG") and Advanced Cellular Group ("ACG").”
27. Qorvo, Inc., Form 10-K filed 2026-05-08: “HPA is a leading global supplier of RF, analog mixed signal and power management solutions. CSG is a leading global supplier of connectivity solutions, with broad expertise spanning UWB, Matter, BLE, Zigbee, Thread, Wi-Fi and cellular solutions for the IoT. ACG is a leading global supplier of advanced cellular solutions for smartphones, wearables, laptops, tablets and other devices.”
28. Qorvo, Inc., Form 10-K filed 2026-05-08: “Qorvo serves six primary end markets: automotive, consumer, defense and aerospace, industrial and enterprise, infrastructure and mobile.”
29. Qorvo, Inc., Form 10-K filed 2026-05-08: “Our portfolio includes highly integrated and functionally dense RF modules, envelope tracking ("ET") RF PMICs, antenna tuners, filters and switches.”
30. Qorvo, Inc., Form 10-K filed 2026-05-08: “We provide products to our largest end customer, Apple Inc. ("Apple"), through sales to multiple contract manufacturers, which in the aggregate accounted for 50% and 47% of total revenue in fiscal years 2026 and 2025, respectively.”
31. Qorvo, Inc., Form 10-K filed 2026-05-08: “The Company provides products to its largest end customer, Apple Inc., through sales to multiple contract manufacturers, which in the aggregate accounted for approximately 50%, 47% and 46% of total revenue in fiscal years 2026, 2025 and 2024, respectively. Samsung Electronics Co., Ltd., accounted for approximately 10%, 10% and 12% of total revenue in fiscal years 2026, 2025 and 2024, respectively. These customers primarily purchase radio frequency ("RF") solutions for a variety of mobile devices from the Company's ACG segment.”
32. Qorvo, Inc., Form 10-K filed 2026-05-08: “Collectively, our two largest end customers accounted for an aggregate of approximately 59%, 57% and 58% of our revenue for fiscal years 2026, 2025 and 2024, respectively.”
33. Qorvo, Inc., Form 10-K filed 2026-05-08: “We sell our products worldwide both directly to customers and through a network of U.S. and foreign sales representative firms and distributors.”
34. Qorvo, Inc., Form 10-K filed 2026-05-08: “In defense and aerospace, HPA is a leading supplier of RF products and compound semiconductor foundry and assembly services to the U.S. government, U.S. defense primes, U.S. allies and other customers.”
35. Qorvo, Inc., Form 10-K filed 2026-05-08: “Our revenue fluctuates based on consumer demand for devices as well as the timing of customer device launches and large defense programs.”
36. The record on this page: revenue by line and by geography, as tagged in the annual report (the SEC's financial statement data sets)
37. Qorvo, Inc., Form 10-K filed 2026-05-08: “The consolidated financial statements include revenue to customers by geographic region (based on the location of the customers' headquarters) that are summarized as follows (in thousands)”
38. Qorvo, Inc., Form 10-K filed 2026-05-08: “Sales to customers located outside the U.S. accounted for approximately 37% of our revenue in fiscal 2026, of which approximately 13% was attributable to sales to customers located in China.”
39. Qorvo, Inc., Form 10-K filed 2026-05-08: “In fiscal 2026, our fabrication facilities for the production of BAW, GaAs, GaN and SAW wafers were located in North Carolina, Oregon and Texas.”
40. Qorvo, Inc., Form 10-K filed 2026-05-08: “In fiscal 2026, our internal assembly facilities were located in Costa Rica, Germany and the U.S. We also use external suppliers for these and other packaging technologies.”
41. Qorvo, Inc., Form 10-K filed 2026-05-08: “We also use multiple silicon-based process technologies, including SOI, SiGe and bulk CMOS, which are sourced from leading silicon foundries located throughout the world. We have a global supply chain and ship millions of units per day.”
42. Qorvo, Inc., Form 10-K filed 2026-05-08: “We purchase numerous raw materials and parts, such as silicon, passive components and substrates for our manufacturing processes. In our GaN and GaAs manufacturing operations, we use several raw materials, including GaN on silicon carbide ("SiC") wafers and GaAs wafers. In our acoustic filter manufacturing operations, raw materials include silicon, lithium niobate and lithium tantalate.”
43. Qorvo, Inc., Form 10-K filed 2026-05-08: “Our manufacturing strategy is to internally produce only the most differentiated elements of our products, geographically align production with customers and suppliers, and leverage the scale, capabilities, and cost effectiveness of our outsourced partners.”
44. Qorvo, Inc., Form 10-K filed 2026-05-08: “We closed our assembly and test facility in Costa Rica in the third quarter of fiscal 2026 and transitioned to external partners.”
45. Qorvo, Inc., Form 10-K filed 2026-05-08: “In the fourth quarter of fiscal 2026, we completed the sale of our North Carolina fabrication facility and are operating under a short-term supply agreement with the buyer until we complete the transfer of SAW filter production to our Texas facility.”
46. Qorvo, Inc., Form 10-K filed 2026-05-08: “Our recent efforts to consolidate our manufacturing footprint, including the divestitures of assembly and test operations in both China and Costa Rica, as well as the sale of our North Carolina fabrication facility, have increased our reliance on third parties.”
47. Qorvo, Inc., Form 10-K filed 2026-05-08: “In fiscal 2025, the Company initiated actions to reduce operating expenses, streamline its manufacturing footprint and focus on opportunities that align with its long-term profitability objectives (the "2025 Restructuring Initiatives"). As part of these actions, the Company reduced its workforce related to its mass-market Android business, sold its SiC power device business, cancelled certain multiyear projects to update the Company's core business systems, and began to seek strategic alternatives related to its MEMS-based sensing solutions business.”
48. Qorvo, Inc., Form 10-K filed 2026-05-08: “In the third quarter of fiscal 2026, the Company completed the sale of its MEMS-based sensing solutions business, resulting in a gain of $19.2 million, which is included in "Other operating expense" in the Consolidated Statement of Operations.”
49. Qorvo, Inc., Form 10-K filed 2026-05-08: “Goodwill and intangible asset impairment charges in fiscal 2026 were due to impairment testing triggered by revisions in forecasts for a reporting unit within the CSG segment.”
50. Qorvo, Inc., Form 10-K filed 2026-05-08: “On October 27, 2025, we entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Skyworks Solutions, Inc., a Delaware corporation (“Skyworks”), the Company”
51. Qorvo, Inc., Form 10-K filed 2026-05-08: “with the Company surviving the First Merger as a wholly-owned subsidiary of Skyworks (the “Surviving Corporation”)”
52. Qorvo, Inc., Form 10-K filed 2026-05-08: “Immediately upon completion of the transaction, we anticipate that Company stockholders and Skyworks stockholders will each hold approximately 37% and 63%, respectively, of the shares of the combined company’s common stock then issued and outstanding.”
53. Qorvo, Inc., Form 10-K filed 2026-05-08: “If the Mergers are consummated, Qorvo Common Stock will be delisted from the Nasdaq Stock Market LLC and deregistered under the Securities Exchange Act of 1934, as amended.”
54. Qorvo, Inc., Form 10-K filed 2026-05-08: “The stockholders of both Qorvo and Skyworks approved the Merger Agreement at each company's special meeting of stockholders on February 11, 2026. Consummation of the Mergers is subject to required regulatory approvals, including certain antitrust and foreign investment approvals, and the satisfaction of other customary closing conditions. We currently anticipate the Mergers will be completed early in calendar year 2027.”
55. Qorvo, Inc., Form 10-K filed 2026-05-08: “On February 5, 2026, Qorvo and Skyworks each received a Request for Additional Information and Documentary Material (the “Second Request”) from the U.S. Federal Trade Commission (“FTC”) in connection with the transaction. The Second Request was issued under notification requirements of the HSR Act. The effect of the Second Request is to extend the waiting period imposed by the HSR Act until 30 days after Qorvo and Skyworks have each substantially complied with the Second Request it received”
56. Qorvo, Inc., Form 10-K filed 2026-05-08: “Upon termination of the Merger Agreement, each of the Company and Skyworks, under specified circumstances, may be required to pay the other party a termination fee of $298.7 million.”
57. Qorvo, Inc., Form 10-K filed 2026-05-08: “Additionally, Skyworks, under specified circumstances, including termination following an injunction arising in connection with certain antitrust or foreign investment laws, or failure to receive certain required regulatory approvals of specified governmental authorities by the Outside Date (as defined in the Merger Agreement), will be required to pay the Company a termination fee of $100.0 million.”
58. Qorvo, Inc., Form 10-Q filed 2026-07-28: “The Company is increasingly hopeful that the transaction will close within the calendar year, subject to satisfaction or waiver of all closing conditions, but there can be no assurances that the closing will occur on this timeline.”
59. Qorvo, Inc., Form 10-K filed 2026-05-08: “We have developed multiple generations of gallium arsenide ("GaAs"), gallium nitride ("GaN"), BAW and surface acoustic wave ("SAW") process technologies that we manufacture.”
60. Qorvo, Inc., Form 10-K filed 2026-05-08: “We have our own flip chip, wire bond and wafer-level packaging technologies that we can deploy in internal and external assembly and packaging facilities.”
61. Qorvo, Inc., Form 10-K filed 2026-05-08: “Qorvo offers an extensive portfolio of GaN and GaAs foundry and assembly services from our Richardson, Texas manufacturing facility, which is a U.S. DoD Category 1A "Trusted Source." This accreditation encompasses design, wafer fabrication, post-processing, packaging, assembly, and testing services.”
62. Qorvo, Inc., Form 10-K filed 2026-05-08: “We have approximately 2,700 patents that have expiration dates between 2026 and 2044.”
63. Qorvo, Inc., Form 10-K filed 2026-05-08: “However, we believe the duration and scope of our most relevant patents are sufficient to support our business, which as a whole is not significantly dependent on any particular patent or other IP right.”
64. Qorvo, Inc., Form 10-K filed 2026-05-08: “HPA competes primarily with Analog Devices, Inc.; Axiro Semiconductor Private Limited; MACOM Technology Solutions Holdings, Inc.; Monolithic Power Systems, Inc.; Renesas Electronics Corporation; Scientific Components Corporation (d/b/a Mini-Circuits); Silergy Corp; and Texas Instruments, Inc.”
65. Qorvo, Inc., Form 10-K filed 2026-05-08: “CSG competes primarily with Broadcom Inc.; Murata Manufacturing Co., Ltd.; Nordic Semiconductor; NXP Semiconductors N.V.; Qualcomm Technologies, Inc.; RichWave Technology Corporation; Silicon Laboratories Inc.; Skyworks Solutions, Inc.; and Vanchip (Tianjin) Technology Co., Ltd. ACG competes primarily with Broadcom Inc.; Maxscend Microelectronics Co., Ltd.; Murata Manufacturing Co., Ltd.; Qualcomm Technologies, Inc.; Skyworks Solutions, Inc.; and Vanchip (Tianjin) Technology Co., Ltd.”
66. Qorvo, Inc., Form 10-K filed 2026-05-08: “In addition to our direct competitors, some of our largest end customers and leading platform partners also compete with us to some extent by designing and manufacturing their own products.”
67. Qorvo, Inc., Form 10-K filed 2026-05-08: “This market dynamic has evolved as chipset suppliers have worked to develop more fully integrated solutions that include their own RF technologies and components.”
68. Qorvo, Inc., Form 10-K filed 2026-05-08: “The U.S. government has imposed export restrictions that effectively banned American companies from exporting, reexporting, and transferring products to certain of our customers”
69. Qorvo, Inc., Form 10-K filed 2026-05-08: “However, the tariffs imposed by the U.S. are increasing the cost of importing foreign sourced components and equipment to our U.S. facilities to build the products that we manufacture in the U.S.”
70. The record on this page: the filed annual figures (EDGAR's company facts)
71. Qorvo, Inc., Form 10-K filed 2026-05-08: “Revenue decreased 1.1% in fiscal 2026 to $3,678.5 million, compared to $3,719.0 million in fiscal 2025, resulting from decreases in ACG and CSG revenue, partially offset by an increase in HPA revenue.”
72. Qorvo, Inc., Form 10-K filed 2026-05-08: “Gross margin for fiscal 2026 was 45.9%, compared to 41.3% in fiscal 2025, driven by our strategy within the ACG segment to reduce exposure to lower margin, mass-market Android smartphones, as well as favorable business mix within the HPA segment.”
73. Qorvo, Inc., Form 10-K filed 2026-05-08: “Operating income was $411.4 million in fiscal 2026, compared to $95.5 million in fiscal 2025, driven by higher gross margin and lower goodwill and intangible asset impairment charges.”
74. Qorvo, Inc., Form 10-K filed 2026-05-08: “Revenue $ 2,551,206 $ 2,609,189 $ (57,983) (2.2) % Operating income 667,352 602,447 64,905 10.8 Operating income as a % of revenue 26.2 % 23.1”
75. Qorvo, Inc., Form 10-K filed 2026-05-08: “The decrease in consolidated revenue resulted from decreases in revenue of $58.0 million and $50.9 million in ACG and CSG, respectively, and an increase in revenue of $68.4 million in HPA, which are further discussed in our Operating Segments results below.”
76. Qorvo, Inc., Form 10-K filed 2026-05-08: “The decrease in ACG revenue represents the net of a decrease in revenue from our products in the Android ecosystem and an increase in revenue attributable to increased content in flagship and premium tiers of smartphones. This is consistent with our decision to strategically reduce our exposure in mass-market Android smartphones and narrow our focus to the flagship and premium tiers of smartphones.”
77. Qorvo, Inc., Form 10-K filed 2026-05-08: “The increase in ACG operating income was driven by favorable product mix and a decrease in operating expenses of $29.7 million, partially offset by the impact of lower revenue. The decrease in operating expenses was attributable to reductions in product development costs related to mass-market Android smartphones.”
78. Qorvo, Inc., Form 10-K filed 2026-05-08: “Revenue $ 705,657 $ 637,261 $ 68,396 10.7 % Operating income 189,356 108,895 80,461 73.9 Operating income as a % of revenue 26.8 % 17.1”
79. Qorvo, Inc., Form 10-K filed 2026-05-08: “The increase in HPA revenue was primarily attributable to a $108.3 million increase in revenue driven by increased content and programs in defense and aerospace, the industry's ongoing transition to broadband DOCSIS 4.0 and higher demand for our base station products.”
80. Qorvo, Inc., Form 10-K filed 2026-05-08: “These revenue increases were partially offset by a $27.7 million decrease in revenue as a result of the sale of the SiC power device business in January 2025, as well as a $9.0 million decrease in revenue from our power management business due to lower demand from our customers whose products have been impacted by tariffs.”
81. Qorvo, Inc., Form 10-K filed 2026-05-08: “Revenue $ 421,654 $ 472,521 $ (50,867) (10.8) % Operating loss (42,253) (55,842) 13,589 24.3 Operating loss as a % of revenue (10.0) % (11.8)”
82. Qorvo, Inc., Form 10-K filed 2026-05-08: “The decrease in CSG revenue was attributable primarily to a $48.7 million decrease in revenue for our Wi-Fi components and UWB solutions, driven by our decision to strategically narrow our focus on a higher margin portfolio.”
83. Qorvo, Inc., Form 10-K filed 2026-05-08: “The decrease in CSG operating loss was due to improved product costs, favorable product mix and a decrease in operating expenses of $14.3 million, partially offset by the impact of lower revenue. The decrease in operating expenses was driven by lower product development costs, as well as lower expenses following the divestiture of the MEMS-based sensing solutions business in October 2025. CSG results for fiscal years 2026 and 2025 include operating losses of $9.9 million and $15.4 million, respectively, from the MEMS-based sensing solutions business.”
84. Qorvo, Inc., Form 10-Q filed 2026-07-28: “Three Months Ended June 27, 2026 % of Revenue June 28, 2025 % of Revenue Increase (Decrease) Percentage Change Revenue $ 784,795 100.0 % $ 818,778 100.0 % $ (33,983) (4.2)”
85. Qorvo, Inc., Form 10-Q filed 2026-07-28: “The decrease in consolidated revenue resulted from decreases in revenue of $94.7 million and $8.3 million in ACG and CSG, respectively, and an increase in revenue of $69.0 million in HPA, which are further discussed in our Operating Segments results below.”
86. Qorvo, Inc., Form 10-Q filed 2026-07-28: “The $69.0 million increase in HPA revenue was primarily attributable to a $57.9 million increase in revenue from our defense and aerospace, and infrastructure businesses.”
87. Qorvo, Inc., Form 10-Q filed 2026-07-28: “Gross margin increased to 51.1% for the first quarter of fiscal 2027 as compared to 40.5% for the first quarter of fiscal 2026.”
88. Qorvo, Inc., Form 10-Q filed 2026-07-28: “Revenue $ 101,869 $ 110,153 $ (8,284) (7.5) % Operating income (loss) 2,994 (7,533) 10,527 139.7”
89. Qorvo, Inc., Form 10-Q filed 2026-07-28: “The $94.7 million decrease in ACG revenue was driven by the decision to strategically reduce our exposure in mass-market Android smartphones and narrow our focus to higher value placements.”
90. Qorvo, Inc., Form 10-K filed 2026-05-08: “For example, due to lower profitability from increased competition, our decision in fiscal 2025 to reduce our exposure in the mass-market Android business to focus on more profitable revenue streams has impacted, and we expect will continue to impact, our revenue.”
91. Qorvo, Inc., Form 10-K filed 2026-05-08: “The decrease in research and development expense was driven by a $19.9 million decrease in product development costs related to mass-market Android smartphones.”

Where the revenue comes from

By geography: United States 63%, China 13%, Other Asia 12%, Taiwan 10%, Europe 3%. As tagged in its annual report (Form 10-K, filed 2026-05-08).

Who runs it

Bruggeworth, Robert A (President and CEO); Brown, Grant (SVP & Chief Financial Officer); Chesley, Philip (SVP, High Performance Analog); Creviston, Steven E (SVP, Connectivity & Sensors); Fego, Paul J (SVP, Global Operations); Harrison, Gina (VP and Corporate Controller); Stewart, Frank P. (SVP, Advanced Cellular); Bruner, Judy (director); Clemmer, Richard L (director); Feld, Peter A (director); and 6 more. 16 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-05.

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