Qorvo Inc.

Qorvo is a holding company. Through its subsidiaries, the company designs, develops, manufactures and markets its products to U.S. and international original equipment manufacturers and original design manufacturers in two operating segments: Mobile Products, which is a supplier of cellular radio frequency (RF) and Wi-Fi solutions for mobile devices, including smartphones, wearables, laptops, tablets and cellular-based applications for the Internet of Things (IoT); and Infrastructure and Defense Products, which is a supplier of RF and system-on-a-chip solutions for cellular base stations and other wireless communications infrastructure, defense, smart home, automotive and other IoT applications.
  • TickerQRVO
  • ISINUS74736K1016
  • ExchangeNASDAQ Stock Market
  • SectorTechnology Hardware & Equipment
  • CountryUnited States
Wedbush Research

Wedbush Morning Call - Aug 10 2020 6:58AM

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Status Quo: Bullish Outlook Intact Our outlook remains status quo: we are bullish and we believe the path of least resistance remains higher. With a lack of breakdowns across Sectors and major indexes, small- and mid-caps outperforming, and new price highs in the S&P 500, Nasdaq 100, Technology, and Discretionary, it is hard to be anything but bullish. · Sector Relative Strength Rankings & Weighting Recommendations. A portion of our bullish outlook has been supported by the fact that RS for defensive Sectors is making lower highs ever since the S&P 500 bottomed in March. This continu...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Growth Surging Relative to Value Note: This report is presented in an abbreviated format, as we are in production of our January US Macro Vision book. As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted below: • Price Trends Remain Bullish. Price trends for major indexes in the US (large-, mid-, and small-caps) and abroad (MSCI EM and EAFE) remain on bullish trajectories. • Internals are Healthy. Advance/decline lines for large-, mid-, and small-caps (S&P 500, 400, and 600, respectively) remain in uptrends, si...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

MSCI ACWI, STOXX 600 Breaking Out The market continues to feed off of optimism surrounding the US-China “phase one” trade deal. Boris Johnson's UK election victory has added an additional tailwind, particularly in the UK and Europe, where the UK's FTSE 250 and the STOXX Europe 600 indexes are breaking out to all-time highs. At some point the euphoria is likely to wear off, but with continued global bullish developments, it remains our belief that pullbacks should be bought and that global equities are in the early stages of a broad-based advance. • Sector Relative Strength Rankings (RSR) & W...

Dave Nicoski ...
  • Ross LaDuke

Vital Signs: Actionable charts

Key Points: Many health care names are staging reversals and breaking above bullish bases, including IVC, CUTR, VREX, EHC, SEM, AMED, MD, HAE, RGEN, BIO, LCI, PBH, Semiconductor and semi-suppliers continue to be leadership (ex. ACLS, VECO, COHU, QRVO, SWKS, SYNA, CRUS, SMTC, QCOM) A number of auto component suppliers appear to be bottoming (ex. AXL, DAN, BWA)

Dave Nicoski ...
  • Ross LaDuke

Vital Signs: Actionable charts

Key Points: • Homebuilders and related stocks continue to indicate a bull market. (ex. BLD, MDC, MTH, MHO, IBP, PHM, CVCO, WLH, DHI, MAS, and GFF) • The Technology Sector continues to have a number of technically attractive names that are pulling back to support levels or remain in uptrends. (ex. SEDG, FORM, KLAC, TER, AMAT, AEIS, SYNA, OLED, QRVO, CRUS, FISV, EVTC, KN, JBL, CDW, and AAPL) • Insurance and Exchange related names remain leadership in the Financial Sector (ex. CME, ICE, CB, CINF, ALL, JRVR, and RNR)

Wedbush Research

Wedbush Morning Call - Aug 10 2020 6:58AM

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Status Quo: Bullish Outlook Intact Our outlook remains status quo: we are bullish and we believe the path of least resistance remains higher. With a lack of breakdowns across Sectors and major indexes, small- and mid-caps outperforming, and new price highs in the S&P 500, Nasdaq 100, Technology, and Discretionary, it is hard to be anything but bullish. · Sector Relative Strength Rankings & Weighting Recommendations. A portion of our bullish outlook has been supported by the fact that RS for defensive Sectors is making lower highs ever since the S&P 500 bottomed in March. This continu...

Qorvo, Inc.: Qorvo’s solid June results and strong September guidance are credit positive

Better than expected FQ1 results and strong guidance on 5G and other ramps are credit positive.

Moody's: Qorvo's ratings are unchanged at Ba1 on announced offering of additional senior notes

Announcement: Moody's: Qorvo's ratings are unchanged at Ba1 on announced offering of additional senior notes. Global Credit Research- 28 May 2020. New York, May 28, 2020-- Moody's Investors Service says that Qorvo, Inc.' s ratings, including the Ba1 senior unsecured debt rating and Corporate Family Rating, remain unchanged following the announced offering of an additional $250 million of 4.375% Senior Notes due 2029.

Qorvo, Inc.: Update to credit analysis following affirmation of ratings

Benefits from strong niche position in smartphone RF, portfolio of IDP products, and low financial leverage. Customer concentration and short product cycles weigh on the credit profile.

Qorvo, Inc.: Update to credit analysis following affirmation of ratings

Benefits from strong niche position in smartphone RF, portfolio of IDP products, and low financial leverage. Customer concentration and short product cycles weigh on the credit profile.

Moody's affirms Qorvo's Ba1 corporate family rating; outlook stable

Rating Action: Moody's affirms Qorvo's Ba1 corporate family rating; outlook stable. Global Credit Research- 07 Apr 2020. New York, April 07, 2020-- Moody's Investors Service, affirmed Qorvo, Inc. Ba1 Corporate Family Rating and other ratings following a review of the company's credit profile considering Qorvo's large exposure to the smartphone end market, which Moody's expects will experience lower production levels in 2020 due to the coronavirus pandemic.

Increased risk weighs on QORVO, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of QORVO (US), active in the Semiconductors industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date July 28, 2020, the closing price was USD 113.39 and its target price was estimated at USD 85.06.

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