qorvo investor day 2020

GREENSBORO, N.C., July 29, 2020 (GLOBE NEWSWIRE) -- Qorvo ® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company’s fiscal 2021 first quarter, ended June 27, 2020. We believe that exclusion of these costs in presenting non-GAAP gross profit and gross margin gives management and investors a more effective means of evaluating Qorvo's historical performance and projected costs and the potential for realizing cost efficiencies. ET. Qorvo is releasing its September quarter results on Wednesday, November 4th, and analysts predict it will be showing-off its best quarter as a public company. We are only at the dawn of the 5G revolution. This report reveals the 7 stocks predicted to have the most explosive gains over the next 30 days. Delayed quotes by Sungard. Qorvo stock has risen as the chipmaker has forecast an improving business for the second half of 2020 thanks to 5G wireless adoption. (1) Free Cash Flow is calculated as net cash provided by operating activities minus property and equipment expenditures. The following tables set forth selected GAAP and non-GAAP financial information for Qorvo for the periods indicated. To learn more, click here. Right now, QRVO is teetering in oversold territory. Qorvo is the IBD Stock Of The Day as the wireless chipmaker is seen gaining from the 5G cellular transition. We believe that restructuring related charges, acquisition and integration related costs, (gain) loss on assets, asset impairment and accelerated depreciation, start-up costs and certain non-cash expenses do not constitute part of Qorvo's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Qorvo (QRVO) delivered earnings and revenue surprises of 32.74% and 7.81%, respectively, for the quarter ended June 2020. Zacks Rank #1 Strong Buys have more than doubled the market for 3 decades...and these are the 7 most promising stocks from that list. Good day, and welcome to the Qorvo, Inc. second-quarter 2020 conference call. We use free cash flow as a supplemental financial measure in our evaluation of liquidity and financial strength. We believe that presentation of a measure of operating income and operating margin that excludes amortization of intangible assets and stock-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Management believes that this measure is useful to evaluate our ongoing operations and as a general indicator of our operating cash flow (in conjunction with a cash flow statement which also includes among other items, changes in working capital and the effect of non-cash charges). X Non-GAAP ROIC is calculated by dividing annualized non-GAAP operating income, net of an adjustment for income taxes (as described above), by average invested capital. ET to approximately 11:30 a.m. The value of Return on Investment is projected to decrease to 4.63. See the report's 7 new picks today, absolutely FREE. Qorvo is the IBD Stock Of The Day as the wireless chipmaker benefits from the launch of Apple's iPhone 12 and other 5G smartphones.Meanwhile, Qorvo stock … Zacks Ranks stocks can, and often do, change throughout the month. GREENSBORO, N.C., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect … These returns cover a period from January 1, 1988 through January 4, 2021. The impending 5G revolution, combined with the pandemic's digitally inclined tailwind, has made Qorvo more valuable than ever before. The monthly returns are then compounded to arrive at the annual return. The conference call will be broadcast live over the Internet and can be accessed by any interested party at http://www.qorvo.com (under “Investors”). We are unable to provide a reconciliation of the forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures without unreasonable effort due to variability and difficulty in making accurate projections for items that would be required to be included in the GAAP measures, such as stock-based compensation, acquisition and integration related costs, restructuring related charges, asset impairments and the provision for income taxes. GREENSBORO, N.C., July 15, 2020 -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, will host a conference call to review fiscal. QRVO's stochastic dip indicates that this could be an opportunity to jump into these shares before they jump back up to new highs. Qorvo® Announces Fiscal 2021 First Quarter Financial Results. Privacy Policy | No cost, no obligation to buy anything ever. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. All other trademarks are the property of their respective owners. This includes personalizing content and advertising. The simple moving average for the period of the last 20 days is 13.86% for QRVO stocks with the simple moving average of 30.71% for the last 200 days. Non-GAAP research and development and selling, general and administrative expenses. It would make it a record quarter if it can deliver, and I do not doubt that it will with the company illustrating 9 consecutive quarters of top and bottom-line beats. Qorvo (QRVO) closed at $158.33 in the latest trading session, marking a -1.28% move from the prior day. Similarly, we believe that presentation of non-GAAP gross profit and gross margin and other non-GAAP financial measures that exclude the impact of stock-based compensation expense assists management and investors in evaluating the period-over-period performance of Qorvo's ongoing operations because (i) the expenses are non-cash in nature, and (ii) although the size of the grants is within our control, the amount of expense varies depending on factors such as short-term fluctuations in stock price volatility and prevailing interest rates, which can be unrelated to the operational performance of Qorvo during the period in which the expense is incurred and generally are outside the control of management. 15 out of 18 analysts are calling these shares a buy today with no sell ratings. This year’s picks could be even more lucrative. A telephone playback of the conference call will be available approximately two hours after the call’s completion and can be accessed by dialing 719-457-0820 and using the passcode 6708971. Average invested capital is calculated by subtracting the average of the beginning balance and the ending balance of current liabilities (excluding the current portion of long-term debt and other short-term financings) from the average of the beginning balance and the ending balance of net accounts receivable, inventories, other current assets, net property and equipment and a cash amount equal to seven days of quarterly revenue. Qorvo defines EBITDA as earnings before interest expense and interest income, income tax expense (benefit), depreciation and intangible amortization. Return on invested capital (ROIC) is a non-GAAP financial measure that management believes provides useful supplemental information for management and the investor by measuring the effectiveness of our operations' use of invested capital to generate profits. In its last earnings report on July 29, 2020, Qorvo reported EPS of $1.5 versus consensus estimate of $1.13. Bob Bruggeworth, president and chief executive officer of Qorvo, said, “Qorvo delivered a strong quarter under challenging circumstances, and I couldn’t be more proud of how our team is responding. GREENSBORO, N.C., May 07, 2020 (GLOBE NEWSWIRE) -- Qorvo ® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company’s fiscal 2020 fourth quarter, ended March 28, 2020. Our technologies and operations are more important than ever as we support global deployments in 5G handsets and infrastructure, defense, Wi-Fi 6 and IoT.”, Mark Murphy, chief financial officer of Qorvo, said, “Qorvo’s revenue, gross margin, and cash flow performance demonstrate how well we are operating in a challenging environment. Qorvo Inc. (QRVO) has a 20-day trading average at $111.11 and the current price is -7.96% off the 52-week high compared with 66.75% distance from its 52-week low. While our June quarter guidance reflects the ongoing demand and supply effects of COVID-19, we are encouraged by continued growth in 5G handsets and infrastructure, and we remain confident in the long-term growth drivers of our business.”. I can't promise that QRVO doesn't have choppy waters ahead (at least in the short run). Non-GAAP net income and non-GAAP net income per diluted share. At this time, I would like to turn the conference over to … PFP 1/15: Small-Cap Russell 2000 Hits New All-Time High, Biden Proposes $1.9T in Aid; Powell Staying Dovish. We believe disclosure of non-GAAP operating income and operating margin has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. We believe such reconciliations would imply a degree of precision that would be confusing or misleading to investors. ET today to discuss today’s press release. We believe disclosure of non-GAAP gross profit and gross margin has economic substance because the excluded expenses do not represent continuing cash expenditures and, as described above, we have little control over the timing and amount of the expenses in question. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. We have chosen to provide this supplemental information to enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, certain non-cash expenses and stock-based compensation expense, which may obscure trends in Qorvo's underlying performance. Check out Zacks’ 2020 Election Stock Report >>. QRVO is trading 9.5% off its all-time highs, which it hit less than a month ago with the rest of the semiconductor sector. Visit www.zacksdata.com to get our data and content for your mobile app or website. QORVO, INC. AND SUBSIDIARIESADDITIONAL SELECTED NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS(In thousands)(Unaudited), QORVO, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited), At Qorvo®Doug DeLietoVP, Investor Relations1.336.678.7968, Qorvo® Announces Fiscal 2020 Fourth Quarter Financial Results, Weighted average outstanding diluted shares, Acquisition and integration related costs, Asset impairment and accelerated depreciation, (Gain) loss on assets, start-up costs and other non-cash expenses, GAAP weighted average outstanding diluted shares, Non-GAAP weighted average outstanding diluted shares, Net cash provided by operating activities, Non-GAAP research and development expense, GAAP selling, general and administrative expense, Non-GAAP selling, general and administrative expense, Total liabilities and stockholders’ equity, Enabled sub-6 GHz 5G network deployments with the ramp of GaN power amplifiers and small signal solutions, Accelerated Wi-Fi 6 shipments and secured cable amplifier design wins to support increased data to the home, Enjoyed growth in data centers, computing and gaming consoles with differentiated programmable power management solutions, Sampled broadband 100-watt (27-31 GHz) and 130-watt (32-38 GHz) millimeter wave power amplifiers, expanding portfolio of GaN-based solid state amplifiers for defense applications, Supported the Samsung® Galaxy S20 platform with a broad set of high performance and highly integrated advanced 4G and 5G components, Supplied a leading smartphone manufacturer with complete main path (LB, MHB and UHB integrated solutions) as well as Wi-Fi FEM, switches and tuners for flagship 5G smartphone, Expanded position in UHB solutions at leading Android smartphone manufacturers and across all 5G chipset solutions, Completed the acquisition of Custom MMIC, expanding leadership in GaAs and GaN RF solutions for defense and aerospace applications, Completed the acquisition of Decawave, positioning, Introduced high sensitivity point-of-care diagnostic test platform, utilizing acoustic resonator technology, for veterinary applications, Non-GAAP gross margin of approximately 47.5%. 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qorvo investor day 2020 2021