Qorvo Foresees Some Android Pain; FVE Down to $157 but Shares Still Undervalued | QRVO Message Board Posts


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Msg  37 of 38  at  9/14/2022 3:15:26 PM  by

mlc178


Qorvo Foresees Some Android Pain; FVE Down to $157 but Shares Still Undervalued

MORNINGSTAR
Sector Director Brian Colello
Analyst Note | Brian Colello, CPA | Aug 4, 2022
Qorvo reported admirable fiscal first-quarter results and provided investors with a solid forecast for the September quarter, but hinted that pain was ahead later in fiscal 2023 because of soft demand for low-end Android-based smartphones from Chinese original equipment manufacturers. We will lower our fair value estimate for no-moat Qorvo to $157 from $169, as were modestly less bullish on future revenue and gross margins. Yet we still view shares as undervalued for long-term, patient investors. We also still see an even more attractive margin of safety in shares of Qorvos rival, Skyworks Solutions, as it has less exposure to these Android devices.


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