Qorvo Inc.


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SKU: QRVO Category:


Qorvo had a reasonably good fiscal year with the revenue outperformance driven by 5G, IoT connectivity, defence, and power. The company’s core segment of Mobile Products saw a sequential revenue jump due to increased flagship volumes and 5G content. Infrastructure and Defense Products revenue increased by double digits both year over year and sequentially given Qorvo’s broad-based strength across the product portfolio and customer base. The company is also expanding its growth opportunities through technology leadership, portfolio management, sustained productivity, lower capital intensity, and broadening the market and customer exposure as connectivity and electrification trends accelerate and product performance requirements rise. The management has a high level of optimism for the 2023 fiscal and expects double-digit growth in all the segments in the coming quarters. However, given its current valuation levels, we give the stock a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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