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Smartkarma

Equity Bottom-Up

Idea: Long Qorvo (“QRVO” or the “Company”), a leading smartphone RF semi supplier, at trough earnings &amp; multiple which should see a) shipments rebound next year from a China lockdown-driven...<a target="_blank" href="https://www.valueinvestorsclub.com/idea/QORVO_INC/3077595399">Read the article on Value Investor Club »</a>

Morningstar

Morningstar, Inc.

We will maintain our $86 fair value estimate for no-moat Qorvo after the company cut its outlook for the June quarter and hinted at only flattish sequential sales in the seasonally strong September quarter. The cut comes on the heels of the U.S. effectively banning suppliers from selling to Huawei without a special license and a late May 20 report that the U.S. is granting a handful of temporary exemptions to suppliers. Qorvo has ceased shipments to Huawei, and its new guidance implies no sales…

Qorvo reported solid fiscal fourth-quarter results in light of a tough demand environment for radio frequency chips used in smartphones, but more important, the company is forecasting a nice bounce back for the June quarter that implies midteens growth on both a sequential and year-over-year basis. Qorvo is optimistic about its content in 5G infrastructure, as well as rising RF content in 4G (and, soon, 5G) smartphones. We will maintain our $86 fair value estimate for no-moat Qorvo. Even with…

United States

Qorvo Inc, designs, develops, manufactures, and markets a variety of high performance analog and mixed signal integrated circuits for the communications markets. The Company's products are used for wireless communications applications such as cellular and PCS, cordless telephony, wireless LANs, industrial radios, wireless security and remote meter reading.

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