Qorvo shares fell nearly 11% in premarket trading after the specialty semiconductor company offered up guidance that missed Wall Street's forecast by a wide margin.

Morgan Stanley has reduced its price target on Qorvo to $84.00 from $110.00 while maintaining an Equalweight rating on the semiconductor company’s stock.

Looking to the fiscal fourth-quarter, Qorvo said it expects to earn between $1.05 and $1.35 per share on an adjusted basis, with the midpoint below the forecast of $1.37 per share. Sales are expected to be between $775M and $825M, with the $800M midpoint below the forecast of $905.1M.

“Looking forward, our March quarterly outlook reflects the seasonal decline at our largest customer, the ongoing strategic resizing of our Android business, and continued strength in HPA,” Qorvo CEO and President Bob Bruggeworth said in a statement.

For the period ending Dec. 27, Qorvo said it earned an adjusted $2.17 per share as revenue rose 8.4% year-over-year to $992.96M. Included in that was $190.9M from its High-Performance Analog Group, $111.3M from its Connectivity and Sensors Group, and $690.8M from its Advanced Cellular Group.

Analysts had expected the company to earn an adjusted $1.86 per share on $985.8M in revenue.