Qorvo, Inc. (QRVO) – Consumer Markets affecting Qorvo’s Revenue growth

Qorvo, Inc. (QRVO) (Q1FY24)

Stock Performance: Qorvo stock price showed a downward trend in the past 3-month period and gave -15% returns. The price increased by 12% in the past 1 year. The stock has a 52-week high of $114.59 and its 52-week low is $79.72.

Q1FY24 Performance: On a GAAP basis, Revenue for Qorvo’s fiscal 2024 first quarter was $651mn, gross margin was 35.2%, operating loss was $48mn and loss per share was $0.44.

On a non-GAAP basis, gross margin was 42.9%, operating income was $47 million and diluted earnings per share was $0.34.

Management Guidance: Qorvo’s outlook for the September 2023 quarter is: Quarterly revenue of approximately $1bn, plus or minus $15mn. Non-GAAP gross margin between 45% and 46%. Non-GAAP diluted earnings per share of approximately $1.75 at the midpoint of revenue.

Highlights

High-Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG) – faced setbacks due to global economic challenges.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Business Highlights
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Crispidea Coverage

No of Pages: 34

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