Frank Stewart sells 2,262 Qorvo shares to cover taxes

Frank P. Stewart, Qorvo’s senior vice president of advanced cellular, sold 2,262 shares worth $215,000 on August 5 in a tax-withholding transaction tied to equity vesting. The disposal reduced his direct stake by 4% and was not a discretionary sale, according to a freshly filed SEC Form 4. The company withheld the shares solely to cover tax obligations; Stewart did not choose to sell them on the open market.

The move comes as Qorvo’s fate is already tied to a planned buyout by rival chipmaker Skyworks Solutions. Each Qorvo share will convert into $32.50 in cash plus 0.96 Skyworks shares when the deal closes. Skyworks stock has fallen about 12% since the deal was announced last October and is now trading around $70.62, after a 6% jump last Friday. Investors are watching closely because Skyworks CEO Phil Brace says the acquisition could close before the end of this year, though regulators could extend the process into early 2027.

Qorvo reported a 7% drop in revenue for its fiscal fourth quarter to $808 million, yet non-GAAP earnings beat expectations at $1.69 per share versus the $1.21 forecast. The company, based in Greensboro, North Carolina, employs about 5,000 people and has an $8.4 billion market cap. It makes radio-frequency and analog chips for phones and infrastructure, posting trailing-twelve-month revenue of $3.6 billion and net income of $399.2 million. Analysts describe its competitive edge as the result of integrated design, a strong patent portfolio, and long-standing ties to top device makers in wireless and defense.

The stock-withholding by Stewart is routine for insiders; Qorvo disclosed seven such filings on the same day. The bigger question is whether the Skyworks deal will deliver the promised value if its shares stay weak. Investors have until the buyout closes—or early 2027 at the latest—to decide whether the combined company can regain momentum in a tough semiconductor cycle.