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QRVO

Qorvo NasdaqGS:QRVO Stock Report

Last Price

US$82.67

Market Cap

US$8.5b

7D

-2.1%

1Y

-51.3%

Updated

28 Sep, 2022

Data

Company Financials +
QRVO fundamental analysis
Snowflake Score
Valuation6/6
Future Growth5/6
Past Performance2/6
Financial Health5/6
Dividends0/6

QRVO Stock Overview

Qorvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide.

Qorvo Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Qorvo
Historical stock prices
Current Share PriceUS$82.67
52 Week HighUS$178.50
52 Week LowUS$80.47
Beta1.38
1 Month Change-11.87%
3 Month Change-12.35%
1 Year Change-51.35%
3 Year Change15.83%
5 Year Change14.57%
Change since IPO979.74%

Recent News & Updates

Sep 28
Is Qorvo (NASDAQ:QRVO) Using Too Much Debt?

Is Qorvo (NASDAQ:QRVO) Using Too Much Debt?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Aug 30

Qorvo CFO sheds interim tag

Qorvo (NASDAQ:QRVO) notifies the appointment of Grant Brown as CFO, effective August 29, 2022. Mr. Brown was named interim CFO on April 18, 2022, and previously served as Qorvo's vice president of Treasury. Read: Qorvo (QRVO) beat Street forecasts with its 1Q financials for fiscal 2023.

Shareholder Returns

QRVOUS SemiconductorUS Market
7D-2.1%-3.4%-2.0%
1Y-51.3%-25.1%-20.3%

Return vs Industry: QRVO underperformed the US Semiconductor industry which returned -27.2% over the past year.

Return vs Market: QRVO underperformed the US Market which returned -22.1% over the past year.

Price Volatility

Is QRVO's price volatile compared to industry and market?
QRVO volatility
QRVO Average Weekly Movement5.8%
Semiconductor Industry Average Movement7.9%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: QRVO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: QRVO's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19578,900Bob Bruggeworthhttps://www.qorvo.com

Qorvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.

Qorvo Fundamentals Summary

How do Qorvo's earnings and revenue compare to its market cap?
QRVO fundamental statistics
Market CapUS$8.53b
Earnings (TTM)US$816.61m
Revenue (TTM)US$4.57b

10.4x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
QRVO income statement (TTM)
RevenueUS$4.57b
Cost of RevenueUS$2.45b
Gross ProfitUS$2.12b
Other ExpensesUS$1.30b
EarningsUS$816.61m

Last Reported Earnings

Jul 02, 2022

Next Earnings Date

n/a

Earnings per share (EPS)7.91
Gross Margin46.36%
Net Profit Margin17.87%
Debt/Equity Ratio47.6%

How did QRVO perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is QRVO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for QRVO?

Other financial metrics that can be useful for relative valuation.

QRVO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.1x
Enterprise Value/EBITDA6.7x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does QRVO's PE Ratio compare to its peers?

QRVO PE Ratio vs Peers
The above table shows the PE ratio for QRVO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25x
LSCC Lattice Semiconductor
51.7x28.3%US$7.0b
OLED Universal Display
25.3x15.4%US$4.6b
SWKS Skyworks Solutions
11.5x9.7%US$14.9b
CRUS Cirrus Logic
11.6x5.7%US$4.1b
QRVO Qorvo
10.4x21.9%US$8.5b

Price-To-Earnings vs Peers: QRVO is good value based on its Price-To-Earnings Ratio (10.4x) compared to the peer average (25x).


Price to Earnings Ratio vs Industry

How does QRVO's PE Ratio compare vs other companies in the US Semiconductor Industry?

Price-To-Earnings vs Industry: QRVO is good value based on its Price-To-Earnings Ratio (10.4x) compared to the US Semiconductor industry average (15.4x)


Price to Earnings Ratio vs Fair Ratio

What is QRVO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

QRVO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.4x
Fair PE Ratio26.6x

Price-To-Earnings vs Fair Ratio: QRVO is good value based on its Price-To-Earnings Ratio (10.4x) compared to the estimated Fair Price-To-Earnings Ratio (26.6x).


Share Price vs Fair Value

What is the Fair Price of QRVO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: QRVO ($82.67) is trading below our estimate of fair value ($259.36)

Significantly Below Fair Value: QRVO is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Qorvo forecast to perform in the next 1 to 3 years based on estimates from 23 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


21.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: QRVO's forecast earnings growth (21.9% per year) is above the savings rate (1.9%).

Earnings vs Market: QRVO's earnings (21.9% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: QRVO's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: QRVO's revenue (8.6% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: QRVO's revenue (8.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: QRVO's Return on Equity is forecast to be high in 3 years time (26.9%)


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Past Performance

How has Qorvo performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


60.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: QRVO has high quality earnings.

Growing Profit Margin: QRVO's current net profit margins (17.9%) are lower than last year (21.2%).


Past Earnings Growth Analysis

Earnings Trend: QRVO has become profitable over the past 5 years, growing earnings by 60.3% per year.

Accelerating Growth: QRVO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: QRVO had negative earnings growth (-11.3%) over the past year, making it difficult to compare to the Semiconductor industry average (54.4%).


Return on Equity

High ROE: QRVO's Return on Equity (19%) is considered low.


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Financial Health

How is Qorvo's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: QRVO's short term assets ($2.4B) exceed its short term liabilities ($718.5M).

Long Term Liabilities: QRVO's short term assets ($2.4B) exceed its long term liabilities ($2.3B).


Debt to Equity History and Analysis

Debt Level: QRVO's net debt to equity ratio (27.6%) is considered satisfactory.

Reducing Debt: QRVO's debt to equity ratio has increased from 20.1% to 47.6% over the past 5 years.

Debt Coverage: QRVO's debt is well covered by operating cash flow (47.9%).

Interest Coverage: QRVO's interest payments on its debt are well covered by EBIT (16.9x coverage).


Balance Sheet


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Dividend

What is Qorvo current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Qorvo Dividend Yield vs Market
How does Qorvo dividend yield compare to the market?
SegmentDividend Yield
Company (Qorvo)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Semiconductor)2.0%
Analyst forecast in 3 Years (Qorvo)0%

Notable Dividend: Unable to evaluate QRVO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate QRVO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if QRVO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if QRVO's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as QRVO has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.5yrs

Average management tenure


CEO

Bob Bruggeworth (61 yo)

8.75yrs

Tenure

US$10,072,684

Compensation

Mr. Robert A. Bruggeworth, also known as Bob, serves as President & Director of Qorvo US, Inc. He has been the Chief Executive Officer and President of Qorvo, Inc. since December 2013. Mr. Bruggeworth serv...


CEO Compensation Analysis

Bob Bruggeworth's Compensation vs Qorvo Earnings
How has Bob Bruggeworth's remuneration changed compared to Qorvo's earnings?
DateTotal Comp.SalaryCompany Earnings
Jul 02 2022n/an/a

US$817m

Apr 02 2022US$10mUS$920k

US$1b

Jan 01 2022n/an/a

US$1b

Oct 02 2021n/an/a

US$1b

Jul 03 2021n/an/a

US$922m

Apr 03 2021US$10mUS$885k

US$734m

Jan 02 2021n/an/a

US$485m

Oct 03 2020n/an/a

US$446m

Jun 27 2020n/an/a

US$392m

Mar 28 2020US$8mUS$851k

US$334m

Dec 28 2019n/an/a

US$345m

Sep 28 2019n/an/a

US$254m

Jun 29 2019n/an/a

US$203m

Mar 30 2019US$8mUS$826k

US$133m

Dec 29 2018n/an/a

US$59m

Sep 29 2018n/an/a

-US$43m

Jun 30 2018n/an/a

-US$40m

Mar 31 2018US$7mUS$803k

-US$40m

Dec 30 2017n/an/a

US$28m

Sep 30 2017n/an/a

-US$17m

Jul 01 2017n/an/a

-US$42m

Apr 01 2017US$7mUS$794k

-US$17m

Dec 31 2016n/an/a

-US$97m

Oct 01 2016n/an/a

-US$29m

Jul 02 2016n/an/a

-US$37m

Apr 02 2016US$6mUS$771k

-US$29m

Compensation vs Market: Bob's total compensation ($USD10.07M) is about average for companies of similar size in the US market ($USD8.63M).

Compensation vs Earnings: Bob's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: QRVO's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

Experienced Board: QRVO's board of directors are considered experienced (7.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: QRVO insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NasdaqGS:QRVO Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
07 Sep 22SellUS$133,740Jeffery GardnerIndividual1,500US$89.16
22 Aug 22SellUS$122,730Frank StewartIndividual1,224US$100.27
02 Jun 22SellUS$328,800Jeffery GardnerIndividual3,000US$109.60
31 May 22SellUS$110,570Jeffery GardnerIndividual1,000US$110.57
26 May 22SellUS$543,400Jeffery GardnerIndividual5,000US$108.68
03 Dec 21SellUS$200,141John HardingIndividual1,325US$151.05

Ownership Breakdown

What is the ownership structure of QRVO?
Owner TypeNumber of SharesOwnership Percentage
State or Government51,1940.05%
Individual Insiders692,9320.7%
Hedge Funds6,967,0366.8%
General Public9,739,4979.4%
Institutions85,753,36183.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 65.23% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
11.82%
The Vanguard Group, Inc.
12,202,932$1.0b0.05%0.02%
8.59%
BlackRock, Inc.
8,862,761$732.7m-1.04%0.02%
6.75%
The Baupost Group, L.L.C.
6,967,036$576.0m4.84%9.07%
5.2%
Boston Partners Global Investors, Inc.
5,369,239$443.9m-0.05%0.37%
5.2%
Capital Research and Management Company
5,362,828$443.3m23.28%0.03%
4.58%
Vulcan Value Partners, LLC
4,721,609$390.3m-13.04%3.77%
4.51%
State Street Global Advisors, Inc.
4,656,970$385.0m-3.02%0.02%
2.19%
Geode Capital Management, LLC
2,259,949$186.8m1.32%0.02%
2.08%
Columbia Management Investment Advisers, LLC
2,145,496$177.4m0.12%0.05%
1.62%
LSV Asset Management
1,675,706$138.5m-4.26%0.28%
1.47%
Dimensional Fund Advisors LP
1,516,275$125.4m7.74%0.03%
1.22%
Northern Trust Global Investments
1,256,209$103.9m-3.03%0.02%
1.2%
Invesco Capital Management LLC
1,240,762$102.6m20.5%0.08%
1.06%
Norges Bank Investment Management
1,089,342$90.1m0%0.01%
0.86%
Legal & General Investment Management Limited
887,673$73.4m-6.92%0.02%
0.85%
UBS Asset Management
880,744$72.8m1.17%0.01%
0.85%
BNY Mellon Asset Management
878,829$72.7m8.79%0.02%
0.74%
Voloridge Investment Management, LLC
767,328$63.4m15.76%0.33%
0.73%
Select Equity Group, L.P.
752,114$62.2m13.15%0.23%
0.69%
Eaton Vance Management
711,666$58.8m7.35%0.02%
0.67%
Fisher Asset Management, LLC
688,591$56.9m0.05%0.04%
0.64%
D. E. Shaw & Co., L.P.
664,749$55.0m-14.06%0.1%
0.58%
Charles Schwab Investment Management, Inc.
599,651$49.6m1.82%0.01%
0.57%
AQR Capital Management, LLC
587,998$48.6m-3.81%0.11%
0.56%
Van Eck Associates Corporation
573,286$47.4m-19.69%0.1%

Company Information

Qorvo, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Qorvo, Inc.
  • Ticker: QRVO
  • Exchange: NasdaqGS
  • Founded: 1957
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: US$8.532b
  • Shares outstanding: 103.20m
  • Website: https://www.qorvo.com

Number of Employees


Location

  • Qorvo, Inc.
  • 7628 Thorndike Road
  • Greensboro
  • North Carolina
  • 27409-9421
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
QRVONasdaqGS (Nasdaq Global Select)YesNew Common SharesUSUSDJun 1997
2QODB (Deutsche Boerse AG)YesNew Common SharesDEEURJun 1997
2QOXTRA (XETRA Trading Platform)YesNew Common SharesDEEURJun 1997
0KSJLSE (London Stock Exchange)YesNew Common SharesGBUSDJun 1997
QRVO *BMV (Bolsa Mexicana de Valores)YesNew Common SharesMXMXNJun 1997
Q1RV34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 2 REPR 1 COMBRBRLJan 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/07/02
Annual Earnings2022/04/02


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.