Qorvo, Inc.QRVO

Qorvo reports fiscal 2026 revenue of $3.68 billion, net income of $339 million, and diluted EPS of $3.62, all from the 10-K filed 8 May 2026. Operating income clocked in at $411.4 million, while operating cash flow hit $808.6 million, giving the company a tidy cash pile of $1.22 billion. The filing also shows $553.7 million of inventory at the period end, down $86.6 million from the prior year, a sign that supply-chain tightness is easing but not gone. (source: SEC EDGAR 10-K, https://www.sec.gov/Archives/edgar/data/1604778/000162828026032873/rfmd-20260328.htm)

Apple still matters: the same filing states that sales routed through multiple contract manufacturers to Apple accounted for 50% of Qorvo’s revenue in fiscal 2026, up from 47% a year earlier. That concentration is both blessing and curse-Apple’s volumes scale the top line, but a single customer call can shift the growth needle faster than a design win in an adjacent handset tier. (source: SEC EDGAR 10-K, https://www.sec.gov/Archives/edgar/data/1604778/000162828026032873/rfmd-20260328.htm)

The company spent $726.1 million on R&D in fiscal 2026, roughly 20% of revenue, funding work across RF front-end, power management, and defence electronics. Capital expenditure was $129.1 million, modest relative to cash generation, but the inventory drawdown of $86.6 million suggests the business is still working down post-pandemic stockpiles. Share count at period end was 93.5 million diluted shares, unchanged from the prior year, so dilution is not the story here-execution is. (source: SEC EDGAR 10-K, https://www.sec.gov/Archives/edgar/data/1604778/000162828026032873/rfmd-20260328.htm)

The latest DEF 14A filed 26 June 2026 lists the usual governance motions-Code of Business Conduct and Ethics, board committee charters-and includes bios for executives who joined after the RFMD merger. The proxy also tees up the annual meeting on 10 August 2026, where shareholders are asked to re-elect directors and ratify auditors. No special votes, no poison pills, just the annual civic ritual of corporate governance. (source: QRVO DEF 14A, https://www.sec.gov/Archives/edgar/data/1604778/000119312526285512/d22973ddef14a.htm)

The June proxy supplements show the Compensation Committee approved performance targets tied to fiscal 2029 revenue goals, a one-year window that starts roughly three years from now. The optics are clean-pay for future results-but the time lag turns incentives into a deferred conversation rather than an immediate accountability lever. (source: QRVO ARS, https://www.sec.gov/Archives/edgar/data/1604778/000119312526285545/d103419dars.pdf)

The June 425 filing with Skyworks flags a potential transaction but hedges every verb: expected; such transactions with Qorvo being timely completed, if completed at all; regulatory approvals required. The document is a reminder that M&A announcements often precede the punchline by quarters, if they arrive at all. (source: QRVO 425, https://www.sec.gov/Archives/edgar/data/1604778/000110465926073097/tm2613769d2_425.htm)

The company’s 8-K on 9 June 2026 noted the sale of its SiC power device business in January 2025, a disposal that removed $27.7 million of revenue and simplified the portfolio. A smaller $9 million drop from power management followed as demand softened, but the net impact on the top line was offset by strength in mobile and defence franchises. (source: QRVO 8-K, https://www.sec.gov/Archives/edgar/data/1604778/000095010326008680/dp248142_8k.htm)