NasdaqGS:QRVO

Stock Analysis Report

Executive Summary

Qorvo, Inc. provides radio frequency (RF) solutions and technologies for smartphones and other mobile devices, defense and aerospace, Wi-Fi customer premises equipment, cellular base stations, and Internet of Things applications (IoT) worldwide.


Snowflake Analysis

Solid track record with excellent balance sheet.


Similar Companies

Share Price & News

How has Qorvo's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: QRVO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

13.9%

QRVO

15.8%

US Semiconductor

10.5%

US Market


1 Year Return

12.5%

QRVO

4.9%

US Semiconductor

-11.5%

US Market

Return vs Industry: QRVO exceeded the US Semiconductor industry which returned 4.9% over the past year.

Return vs Market: QRVO exceeded the US Market which returned -11.5% over the past year.


Shareholder returns

QRVOIndustryMarket
7 Day13.9%15.8%10.5%
30 Day-14.9%-10.0%-15.4%
90 Day-30.9%-17.1%-21.4%
1 Year12.5%12.5%7.0%4.9%-9.6%-11.5%
3 Year17.7%17.7%46.6%38.5%12.6%5.4%
5 Year3.7%3.7%106.1%86.3%32.8%18.1%

Price Volatility Vs. Market

How volatile is Qorvo's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Qorvo undervalued compared to its fair value and its price relative to the market?

32.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: QRVO ($80.69) is trading below our estimate of fair value ($120.04)

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


Price To Earnings Ratio

PE vs Industry: QRVO is poor value based on its PE Ratio (27.7x) compared to the Semiconductor industry average (25.8x).

PE vs Market: QRVO is poor value based on its PE Ratio (27.7x) compared to the US market (13x).


Price to Earnings Growth Ratio

PEG Ratio: QRVO is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: QRVO is good value based on its PB Ratio (2.2x) compared to the US Semiconductor industry average (2.3x).


Next Steps

Future Growth

How is Qorvo forecast to perform in the next 1 to 3 years based on estimates from 22 analysts?

24.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: QRVO's forecast earnings growth (24.1% per year) is above the savings rate (1.7%).

Earnings vs Market: QRVO's earnings (24.1% per year) are forecast to grow faster than the US market (12.3% per year).

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

Revenue vs Market: QRVO's revenue (6.7% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: QRVO's revenue (6.7% 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 low in 3 years time (17.3%).


Next Steps

Past Performance

How has Qorvo performed over the past 5 years?

16.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: QRVO has high quality earnings.

Growing Profit Margin: QRVO's current net profit margins (11%) are higher than last year (1.9%).


Past Earnings Growth Analysis

Earnings Trend: QRVO's earnings have grown by 16.4% per year over the past 5 years.

Accelerating Growth: QRVO's earnings growth over the past year (495.8%) exceeds its 5-year average (16.4% per year).

Earnings vs Industry: QRVO earnings growth over the past year (495.8%) exceeded the Semiconductor industry -30.5%.


Return on Equity

High ROE: QRVO's Return on Equity (8%) is considered low.


Next Steps

Financial Health

How is Qorvo's financial position?


Financial Position Analysis

Short Term Liabilities: QRVO's short term assets ($2.1B) exceed its short term liabilities ($491.2M).

Long Term Liabilities: QRVO's short term assets ($2.1B) exceed its long term liabilities ($1.7B).


Debt to Equity History and Analysis

Debt Level: QRVO's debt to equity ratio (36.2%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if QRVO's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: QRVO's debt is well covered by operating cash flow (58.4%).

Interest Coverage: QRVO's interest payments on its debt are well covered by EBIT (12.6x coverage).


Balance Sheet

Inventory Level: QRVO has a high level of physical assets or inventory.

Debt Coverage by Assets: QRVO's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of QRVO's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

5.2yrs

Average management tenure


CEO

Bob Bruggeworth (58yo)

6.25s

Tenure

US$7,984,739

Compensation

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


CEO Compensation Analysis

Compensation vs Market: Bob's total compensation ($USD7.98M) is about average for companies of similar size in the US market ($USD7.47M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Robert Bruggeworth
President6.25yrsUS$7.98m0.15% $13.9m
Mark Murphy
Chief Financial Officer3.75yrsUS$2.58m0.088% $8.2m
Paul Fego
Corporate Vice President of Global Operations1.67yrsUS$2.83m0.035% $3.2m
James Klein
Corporate VP and President of Infrastructure & Defense Products 5.17yrsUS$2.33m0.040% $3.7m
Steven Creviston
Corporate VP & President of Mobile Products5.17yrsUS$2.91m0.052% $4.9m
Douglas DeLieto
Vice President of Investor Relationsno datano datano data
J.K. Givens
Corporate VPno datano datano data
Brent Dietz
Director of Corporate Communications5.17yrsno datano data
Brandi Frye
Corporate Vice President of Marketing5.75yrsno datano data
Ralph Knupp
Chief Human Resources Officer & Corporate VP2.92yrsno datano data

5.2yrs

Average Tenure

56.5yo

Average Age

Experienced Management: QRVO's management team is seasoned and experienced (5.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Bruggeworth
President6.25yrsUS$7.98m0.15% $13.9m
Jeffery Gardner
Independent Director5.17yrsUS$306.45k0.030% $2.8m
Roderick Nelson
Independent Director5.17yrsUS$279.96k0.0025% $237.1k
Ralph Quinsey
Chairman of the Board & Lead Independent Director5.17yrsUS$347.96k0.058% $5.4m
Walden Rhines
Independent Director5.17yrsUS$299.96k0.032% $3.0m
Walter Wilkinson
Lead Independent Director5.17yrsUS$300.24k0.023% $2.1m
John Harding
Independent Director5.17yrsUS$279.96k0.0054% $505.0k
H. Ho
Independent Director5.17yrsUS$279.96k0.0097% $910.1k
Susan Spradley
Independent Director3.17yrsUS$279.96k0.0083% $778.5k

5.2yrs

Average Tenure

60yo

Average Age

Experienced Board: QRVO's board of directors are considered experienced (5.2 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Qorvo, Inc.
  • Ticker: QRVO
  • Exchange: NasdaqGS
  • Founded: 1991
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: US$9.335b
  • Shares outstanding: 115.68m
  • Website: https://www.qorvo.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
QRVONasdaqGS (Nasdaq Global Select)YesNew Common SharesUSUSDJun 1997
2QODB (Deutsche Boerse AG)YesNew Common SharesDEEURJun 1997
0KSJLSE (London Stock Exchange)YesNew Common SharesGBUSDJun 1997
2QOBRSE (Berne Stock Exchange)YesNew Common SharesCHCHFJun 1997
Q1RV34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 2 REPR 1 COMBRBRLJan 2020

Biography

Qorvo, Inc. provides radio frequency (RF) solutions and technologies for smartphones and other mobile devices, defense and aerospace, Wi-Fi customer premises equipment, cellular base stations, and Internet of Things applications (IoT) worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. Its products and technologies help people in connecting with each other, accessing broadband data and critical networks, transacting mobile commerce, and interacting through social media. The company offers filters, duplexers, switches, multimode/multi-band power amplifiers and transmit modules, RF power management integrated circuits, antenna switch modules, antenna tuners, antennaplexers, and modules incorporating power amplifiers (PAs) and duplexers, as well as modules incorporating switches, PAs, and duplexers for use in mobile devices. It also provides integrated solutions that include switch-LNA modules, variable gain amplifiers, and integrated PA Doherty modules for massive multiple-input/multiple-output systems; technologies for high-power phased array radar, electronic warfare, and communications systems, as well as compound semiconductor foundry services; Wi-Fi customer premises equipment, including routers, gateways, set-top boxes, and enterprise infrastructure; silicon complementary metal oxide semiconductor system-on-a-chip hardware, firmware, and application software that enable equipment manufacturers to develop smart home products; and automotive RF connectivity products. In addition, it offers optical modulator drivers and trans-impedance amplifiers for use in broadband cable, point-to-point radio, and very small aperture terminal applications. The company sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. Qorvo, Inc. was founded in 1991 and is headquartered in Greensboro, North Carolina. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 03:06
End of Day Share Price2020/03/27 00:00
Earnings2019/12/28
Annual Earnings2019/03/30


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.