Qorvo Stock Fair Value – QORVO Reports USD 651.2 Million in Revenue and USD -43.6 Million in Net Income for FY2024 Q1
August 22, 2023
🌥️Earnings Overview
QORVO ($NASDAQ:QRVO) reported a total revenue of USD 651.2 million and net income of USD -43.6 million for the period ending June 30 2023, which was for its FY2024 Q1. This represented a 37.1% decrease in revenue and a 36.3% decrease in net income when compared to the same period a year earlier.
Share Price
On Wednesday, QORVO, a semiconductor and semi-conductors components company, reported their financial results for FY2024 Q1. In response to this report, QORVO stock opened at $108.4 but closed at $106.1, down by 3.7% from the last closing price of 110.2. The decrease in stock price can be attributed to the company’s reported revenue and net income numbers. Despite posting a net loss in FY2024 Q1, analysts are cautiously optimistic about the future performance of the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Qorvo. More…
| Total Revenues | Net Income | Net Margin |
| 3.19k | -9.31 | -0.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Qorvo. More…
| Operations | Investing | Financing |
| 615.11 | -118.46 | -612.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Qorvo. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.69k | 2.87k | 38.85 |
Key Ratios Snapshot
Some of the financial key ratios for Qorvo are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.7% | -58.4% | 1.9% |
| FCF Margin | ROE | ROA |
| 14.4% | 1.0% | 0.6% |
Analysis – Qorvo Stock Fair Value
At GoodWhale, we have thoroughly analyzed QORVO‘s fundamental data and come to the conclusion that the stock is undervalued by 15.8%. According to our proprietary Valuation Line, the intrinsic value of a single QORVO share is around $126.0, whereas it is currently trading at $106.1. Therefore, we believe that now is a great time to invest in QORVO, as the stock is still fairly priced despite being undervalued. With this in mind, we recommend that investors take advantage of this opportunity and purchase QORVO shares. More…
Peers
In the world of semiconductor companies that provide radio frequency products, Qorvo Inc. has stiff competition. Its main competitors are Skyworks Solutions Inc, Broadcom Inc, and Qualcomm Inc. All of these companies are vying for a share of the market in order to provide their customers with the best products possible.
– Skyworks Solutions Inc ($NASDAQ:SWKS)
Skyworks Solutions Inc is a semiconductor company that designs, manufactures, and markets radio frequency and mixed signal semiconductor solutions for mobile, base station, satellite communications, WiFi, cable television, and other wireless communications applications. The company has a market cap of 13.87B as of 2022 and a return on equity of 17.47%.
– Broadcom Inc ($NASDAQ:AVGO)
Broadcom Inc is a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions. The company’s products enable the delivery of voice, video, data and multimedia content over fixed and mobile networks to homes, businesses and public places. Broadcom’s product portfolio includes switching, routing, security and storage solutions. The company markets its products to enterprises, service providers and consumers worldwide.
– Qualcomm Inc ($NASDAQ:QCOM)
Qualcomm Inc is a leading telecommunications company with a market cap of 131.76B as of 2022. The company has a strong focus on research and development and has a return on equity of 65.09%. Qualcomm’s products and services include chipsets, modems, and other technology solutions for the wireless industry. The company has a strong presence in the global market and is a major player in the development of 5G technology.
Summary
Investors in QORVO should be cautious of the results of the company’s first quarter of fiscal year 2024. The company reported total revenues of USD 651.2 million and net income of USD -43.6 million, representing a 37.1% and 36.3% drop in revenues and profits respectively, compared to the same period a year prior. This caused the stock price to fall on the same day. Investors should assess whether the company’s financial outlook and performance will improve in order to make a sound investment decision.
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