Have a look at News Release: Qorvo, Inc. (NASDAQ: QRVO)

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On 20 Nov 2019, Qorvo, Inc. (NASDAQ: QRVO) spotted trading -2.85% off 52-week high price. On the other end, the stock has been noted 86.15% away from the low price over the last 52-weeks. The stock changed -0.92% to recent value of $101.89. The stock transacted 1329864 shares during most recent day however it has an average volume of 1462.83K shares. The company has 116.12M of outstanding shares and 115.49M shares were floated in the market.

Qorvo® (QRVO) recently reported financial results for the Company’s fiscal 2020 second quarter, ended September 28, 2019.  On a GAAP basis, revenue for Qorvo’s fiscal 2020 second quarter was $807M, gross margin was 40.1%, operating income was $113M and diluted earnings per share was $0.70.  On a non-GAAP basis, gross margin was 46.5%, operating income was $208M and diluted earnings per share was $1.52.

Bob Bruggeworth, president and chief executive officer of Qorvo, stated, “Qorvo delivered another solid quarter, as our technology investments, portfolio management, and operational discipline continued to yield strong and consistent performance.  We are especially happy with 5G design activity and the trends we see toward increasing RF integration.  During the quarter, we successfully integrated our programmable power management products and technologies into IDP.  Following the quarter, we completed the acquisition of Cavendish Kinetics, adding RF MEMS technology and expanding Qorvo’s technology and product leadership.”

Financial Commentary and Outlook

Mark Murphy, chief financial officer of Qorvo, stated, “Qorvo’s December quarter guidance reflects continued robust mobile demand supported by a raise in 5G handset volumes.  Separately, as a result of our market outlook, operating performance and free cash flow forecast, Qorvo’s Board of Directors has accepted a new $1B share repurchase authorization.”

Qorvo presently believes the demand environment in its end markets supports the following expectations for the December 2019 quarter:

  • Quarterly revenue in the range of $840M to $860M
  • Non-GAAP gross margin of about 48%
  • Non-GAAP diluted earnings per share of $1.67 at the midpoint of guidance

Qorvo’s actual quarterly results may differ from these expectations and projections, and such differences may be material.

Its earnings per share (EPS) expected to touch remained 212.70% for this year while earning per share for the next 5-years is expected to reach at 9.15%. QRVO has a gross margin of 40.30% and an operating margin of 7.50% while its profit margin remained 8.20% for the last 12 months.   According to the most recent quarter its current ratio was 3.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 7.99% from the mean of 20 days, 22.18% from mean of 50 days SMA and performed 38.92% from mean of 200 days price. Company’s performance for the week was -1.93%, 30.08% for month and YTD performance remained 67.78%.

 


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Patricia Underwood

Patricia Underwood –Technology and Energy I am Patricia Underwood with over 6 years of involvement with the market exchange industry, I am enthusiastic about Business and technology news, began my vocation as a writer at that point, later climbing my way up towards progress into senior positions. I can view myself as the spine behind the achievement and development of firstnewsclick.com with a fantasy to grow the connections of the business on a worldwide scale. I am likewise a benefactor and a supervisor of the healthcare category. I encountered a critical investigation of organizations and extricated the most imperative data for our shareholder network. Address: 4220 Graystone Lakes Cadwell, GA 31009, United States of America Phone Number:  +1 478 689 4911 Email: Patricia@firstnewsclick.com

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