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

  • QORVO_Reports_USD_651.2_Million_in_Revenue_and_USD_-43.6_Million_in_Net_Income_for_FY2024_Q1″>Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • 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%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Qorvo. More…

    Operations Investing Financing
    615.11 -118.46 -612.6
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • 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
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • 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%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • 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…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • 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.


    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.

    Recent Posts

    Leave a Comment