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

Fundamentals

Excellent balance sheet with reasonable growth potential.


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

-1.7%

QRVO

-0.9%

US Semiconductor

0.5%

US Market


1 Year Return

60.3%

QRVO

38.3%

US Semiconductor

16.1%

US Market

Return vs Industry: QRVO exceeded the US Semiconductor industry which returned 38.3% over the past year.

Return vs Market: QRVO exceeded the US Market which returned 16.1% over the past year.


Shareholder returns

QRVOIndustryMarket
7 Day-1.7%-0.9%0.5%
30 Day30.1%5.9%3.9%
90 Day44.9%13.1%6.6%
1 Year60.3%60.3%41.1%38.3%18.7%16.1%
3 Year86.6%86.6%81.8%71.5%47.2%37.7%
5 Year71.1%71.1%129.1%107.0%61.5%43.7%

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?

48.44x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: QRVO ($101.89) is trading above our estimate of fair value ($76.9)

Significantly Below Fair Value: QRVO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: QRVO is poor value based on its PE Ratio (48.4x) compared to the Semiconductor industry average (29.7x).

PE vs Market: QRVO is poor value based on its PE Ratio (48.4x) compared to the US market (18x).


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 (2.8x) compared to the US Semiconductor industry average (2.9x).


Next Steps

Future Growth

How is Qorvo forecast to perform in the next 1 to 3 years based on estimates from 21 analysts?

45.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: QRVO's forecast earnings growth (45.6% per year) is above the savings rate (2.7%).

Earnings vs Market: QRVO's earnings (45.6% per year) are forecast to grow faster than the US market (14.3% per year).

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

Revenue vs Market: QRVO's revenue (8.5% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: QRVO's revenue (8.5% 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 (18.5%).


Next Steps

Past Performance

How has Qorvo performed over the past 5 years?

-3.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: QRVO has large one-off items impacting its financial results.

Growing Profit Margin: QRVO became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: QRVO's earnings have declined by -3% per year over the past 5 years.

Accelerating Growth: QRVO has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: QRVO has become profitable in the last year, making it difficult to compare its past year earnings growth to the Semiconductor industry (-14.2%).


Return on Equity

High ROE: QRVO's Return on Equity (5.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Qorvo's financial position?


Financial Position Analysis

Short Term Liabilities: QRVO's short term assets ($1.6B) exceeds its short term liabilities ($449.6M)

Long Term Liabilities: QRVO's short term assets ($1.6B) exceeds its long term liabilities (1.1B)


Debt to Equity History and Analysis

Debt Level: QRVO's debt to equity ratio (23.9%) 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 (93.2%).

Interest Coverage: QRVO's interest payments on its debt are well covered by EBIT (13.3x 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 1.5x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.0%forecastin3Years0%

Current dividend yield vs market & industry

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

What is the CEO of Qorvo's salary, the management and board of directors tenure and is there insider trading?

4.8yrs

Average management tenure


CEO

Bob Bruggeworth (58yo)

5.9yrs

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 ($USD7.98M) is about average for companies of similar size in the US market ($USD11.01M).

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


Management Age and Tenure

4.8yrs

Average Tenure

56.5yo

Average Age

Experienced Management: QRVO's management team is considered experienced (4.8 years average tenure).


Board Age and Tenure

4.8yrs

Average Tenure

60yo

Average Age

Experienced Board: QRVO's board of directors are considered experienced (4.8 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$280,92308 Nov 19
Walter Wilkinson
EntityIndividual
Role
Member of the Board of Directors
Lead Independent Director
Shares2,762
Max PriceUS$101.71
SellUS$169,12505 Sep 19
John Harding
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,347
Max PriceUS$72.06
SellUS$222,75023 Aug 19
Walter Wilkinson
EntityIndividual
Role
Member of the Board of Directors
Lead Independent Director
Shares3,000
Max PriceUS$74.25
SellUS$24,33516 Aug 19
Roderick Nelson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares347
Max PriceUS$70.13
SellUS$71,00015 Aug 19
Roderick Nelson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$71.00
SellUS$69,44013 Aug 19
Roderick Nelson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$69.85
SellUS$81,77828 Nov 18
Roderick Nelson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,262
Max PriceUS$64.80

Ownership Breakdown

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


Management Team

  • Bob Bruggeworth (58yo)

    President

    • Tenure: 5.9yrs
    • Compensation: US$7.98m
  • Ralph Knupp (69yo)

    Chief Human Resources Officer & Corporate VP

    • Tenure: 2.6yrs
  • Paul Fego (61yo)

    Corporate Vice President of Global Operations

    • Tenure: 1.3yrs
    • Compensation: US$2.83m
  • Eric Creviston (55yo)

    Corporate VP & President of Mobile Products

    • Tenure: 4.8yrs
    • Compensation: US$2.91m
  • Jeff Howland

    Corporate VP

    • Tenure: 4.8yrs
  • Brandi Frye

    Corporate Vice President of Marketing

    • Tenure: 5.4yrs
  • Doug DeLieto

    Vice President of Investor Relations

    • Tenure: 0yrs
  • Mark Murphy (51yo)

    Chief Financial Officer

    • Tenure: 3.4yrs
    • Compensation: US$2.58m
  • Brent Dietz

    Director of Corporate Communications

    • Tenure: 4.8yrs
  • James Klein (54yo)

    Corporate VP and President of Infrastructure & Defense Products

    • Tenure: 4.8yrs
    • Compensation: US$2.33m

Board Members

  • Bob Bruggeworth (58yo)

    President

    • Tenure: 5.9yrs
    • Compensation: US$7.98m
  • Jeff Gardner (59yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$306.45k
  • Rod Nelson (59yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$279.96k
  • Ralph Quinsey (63yo)

    Chairman of the Board & Lead Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$347.96k
  • Wally Rhines (72yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$299.96k
  • Walter Wilkinson (73yo)

    Lead Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$300.24k
  • Jack Harding (64yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$279.96k
  • David Ho (60yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$279.96k
  • Sue Spradley (58yo)

    Independent Director

    • Tenure: 2.8yrs
    • Compensation: US$279.96k

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$11.837b
  • Shares outstanding: 116.17m
  • 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

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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/21 00:55
End of Day Share Price2019/11/20 00:00
Earnings2019/09/28
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.