Communications chips maker Qorvo (NASDAQ: QRVO) will be reporting earnings this Tuesday after market hours. Here’s what investors should know.

Qorvo beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $1.06 billion, up 1.1% year on year. It was an exceptional quarter for the company, with a significant improvement in its inventory levels and revenue guidance for next quarter exceeding analysts’ expectations.

Is Qorvo a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Qorvo’s revenue to grow 7.9% year on year to $988.6 million, a reversal from the 14.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.86 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Qorvo has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3.1% on average.

Looking at Qorvo’s peers in the semiconductors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Penguin Solutions posted flat year-on-year revenue, beating analysts’ expectations by 1.2%, and Intel reported a revenue decline of 4.1%, topping estimates by 2%. Penguin Solutions traded down 13.8% following the results while Intel was also down 17.3%.

Read our full analysis of Penguin Solutions’s results here and Intel’s results here.

There has been positive sentiment among investors in the semiconductors segment, with share prices up 14.3% on average over the last month. Qorvo is down 3.7% during the same time and is heading into earnings with an average analyst price target of $98.78 (compared to the current share price of $80.90).

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