We use free cash flow as a supplemental financial measure in our evaluation of liquidity and financial strength. 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. Today's conference is being recorded. Qorvo (QRVO) and four other stocks are well poised to make the most of 5G boom amid solid demand for 5G chipsets courtesy of 5G smartphone production ramp up and rise in 5G infrastructure investments. 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. But remember the old Warren Buffett proverb, "be greedy when others are fearful.". ET. Good day, and welcome to the Qorvo, Inc. second-quarter 2020 conference call. The stochastic oscillator on the bottom of the chart illustrates the relatively oversold level that this stock closed at on Friday. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. Qorvo Return on Investment yearly trend continues to be quite stable with very little volatility. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions, and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. Zacks Ranks stocks can, and often do, change throughout the month. 15 out of 18 analysts are calling these shares a buy today with no sell ratings. 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%. Qorvo is well-positioned to heavily profit from this exciting industry’s rapid growth. Qorvo stock is nearing a buy point. Non-GAAP gross profit and gross margin exclude stock-based compensation expense, amortization of intangible assets, accelerated depreciation, restructuring related charges and certain non-cash expenses. The income tax adjustment primarily represents the use of research and development tax credit carryforwards, deferred tax expense (benefit) items not affecting taxes payable, adjustments related to the deemed and actual repatriation of historical foreign earnings, non-cash expense (benefit) related to uncertain tax positions and other items unrelated to the current fiscal year or that are not indicative of our ongoing business operations. If you do not, click Cancel. Check out Zacks’ 2020 Election Stock Report >>. Right now, QRVO is teetering in oversold territory. ET . Additionally, our definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations. We believe that presentation of measures of net income and net income per diluted share that exclude these items is useful to both management and investors for the reasons described above with respect to non-GAAP gross profit and gross margin and non-GAAP operating income and operating margin. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms and Conditions of Service. 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. 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. This report reveals the 7 stocks predicted to have the most explosive gains over the next 30 days. Privacy Policy | No cost, no obligation to buy anything ever. 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. We also believe that the adjustments to profit and margin related to accelerated depreciation, restructuring related charges and certain non-cash expenses do not constitute part of Qorvo's ongoing operations and therefore the exclusion of these items provides management and investors with better visibility into the actual revenue and actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of Qorvo's operations, are outlined below: Non-GAAP gross profit and gross margin. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. 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. See the more detailed financial information for Qorvo, including reconciliations of GAAP and non-GAAP financial information, attached. The recent pre-election jitters and the uptick in COVID cases have brought the whole market down a notch in the past few weeks, and QRVO was no exception to this trend. Real time prices by BATS. GREENSBORO, NC – January 29, 2020 – Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company's fiscal 2020 third quarter, ended December 28, 2019. 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. Qorvo (QRVO Quick QuoteQRVO - Free Report) is a chip powerhouse striving to digitally connect the world. GREENSBORO, N.C., Nov. 04, 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 second quarter, ended October 3, 2020. Non-GAAP research and development and selling, general and administrative expenses exclude stock-based compensation expense, amortization of intangible assets and certain non-cash expenses (primarily acquisition and integration related costs). We are operating well, focused on keeping our employees, partners and communities healthy, while supporting customers and advancing technology. Investor Day 2020 - Darren Moorcroft Darren Moorcroft, chief executive of the Woodland Trust, the UK’s largest woodland nature conservation charity, explains the importance of woodland for biodiversity to thrive, and how important it is for people to reconnect with nature. We believe that the majority of Qorvo's purchased intangibles are not relevant to analyzing current operations because they generally represent costs incurred by the acquired company to build value prior to acquisition, and thus are effectively part of transaction costs rather than ongoing costs of operating Qorvo's business. EBITDA. GREENSBORO, N.C., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced that it … Qorvo stock has risen as the chipmaker has forecast an improving business for the second half of 2020 thanks to 5G wireless adoption. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. On a GAAP basis, revenue for Qorvo’s fiscal 2021 QRVO's stochastic dip indicates that this could be an opportunity to jump into these shares before they jump back up to new highs. GREENSBORO, N.C., Nov. 04, 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 second quarter, ended October 3, 2020. We are only at the dawn of the 5G revolution. We believe disclosure of these non-GAAP operating expenses has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. Our investment research resources are provided to help you make informed investment decisions. 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. Qorvo (Nasdaq:QRVO) makes a better world possible by providing innovative Radio Frequency (RF) solutions at the center of connectivity. Qorvo (QRVO Quick Quote QRVO - Free Report) is set to release second-quarter fiscal 2021 results on Nov 4.. Forward-looking non-GAAP measures. Net debt or positive net cash is defined as unrestricted cash, cash equivalents and short-term investments minus any borrowings under our credit facility and the principal balance of our senior unsecured notes. GREENSBORO, N.C., Oct. 21, 2020 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, will host a … Daniel Laboe Analysts project that this "landmark" smartphone will sell 50 million units in the final months of 2020, with this figure expected to multiply in 2021. Non-GAAP ROIC. These and other risks and uncertainties, which are described in more detail in Qorvo's most recent Annual Report on Form 10-K and in other reports and statements filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements. Qorvo currently believes the demand environment in its end markets supports the following expectations for the June 2020 quarter: Qorvo’s actual quarterly results may differ from these expectations and projections, and such differences may be material. Do the numbers hold clues to what lies ahead for the stock? This technology is just beginning to take hold of the mobile world, and its implications are beginning to ripple across all sectors. Qorvo defines EBITDA as earnings before interest expense and interest income, income tax expense (benefit), depreciation and intangible amortization. Non-GAAP operating income and operating margin exclude stock-based compensation expense, amortization of intangible assets, 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. Have You Seen Zacks’ 2020 Election Stock Report?The upcoming election could be a massive buying opportunity for savvy investors. The Investor Relations website contains information about Qorvo, Inc.'s business for stockholders, potential investors, and financial analysts. QRVO just dipped below its 50-day moving average (blue line) around $130 a share, and it looks like this old support level has become a resistance, but it is something that I have no doubt QRVO will be able to break through once the market turbulence subsides. Free cash flow. Visit performance for information about the performance numbers displayed above. ET to approximately 11:30 a.m. I can't promise that QRVO doesn't have choppy waters ahead (at least in the short run). "We see Qorvo as a strong beneficiary from the 5G handset ramp beginning in the second half of 2020 and continuing for several more years," Kumar said in a note to clients. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. 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. Visit www.zacksdata.com to get our data and content for your mobile app or website. 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. 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. Qorvo is a registered trademark of Qorvo, Inc. in the U.S. and in other countries. Qorvo stock is approaching a buy point from a bullish chart pattern. This year’s picks could be even more lucrative. Look for its 200-day moving average (orange line) to provide support around $110 if the stock were to experience a deeper decline, at which point I wouldn't hesitate to buy (under the assumption that nothing systemic about the enterprise has changed). The primary material limitations associated with the use of non-GAAP financial measures as an analytical tool compared to the most directly comparable GAAP financial measures are these non-GAAP financial measures (i) may not be comparable to similarly titled measures used by other companies in our industry, and (ii) exclude financial information that some may consider important in evaluating our performance, thus limiting their usefulness as a comparative tool. 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. Limitations of non-GAAP financial measures. Stock Market Ends Year On Positive Note As Nasdaq Notches Huge 2020 Gain; Apple, Tesla Were 2020 Stars The major stock indexes ended higher Thursday, as the stock market closed out 2020 on a positive note. We believe that presentation of measures of these operating expenses that exclude 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. 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. We provide these non-GAAP measures to investors on a prospective basis for the same reasons (set forth above) that we provide them to investors on a historical basis. Analysts have been raising their EPS estimates on this stock and pushed QRVO into a Zacks Rank #1 (Strong Buy). Copyright 2021 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. Qorvo’s cutting-edge RF chips are being utilized in the first 5G iPhone (the iPhone 12), and demand is expected to be enormous. We believe that these non-GAAP financial measures offer an additional view of Qorvo's operations that, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of Qorvo's results of operations and the factors and trends affecting Qorvo's business. GREENSBORO, N.C., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect … The question is, which sectors will soar for each candidate? 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. Free cash flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. On a non-GAAP basis, gross margin was 49.6%, operating income was $210 million and diluted earnings per share was $1.57. Our earnings release contains forward-looking gross margin, income tax rate and diluted earnings per share. NYSE and AMEX data is at least 20 minutes delayed. On a GAAP basis, revenue for Qorvo’s fiscal 2020 fourth quarter was $788 million, gross margin was 42.6%, operating income was $102 million and diluted earnings per share was $0.43. 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. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. We believe disclosure of non-GAAP net income and non-GAAP net income per diluted share has economic substance because the excluded expenses are either unrelated to ongoing operations or do not represent current cash expenditures. In this regard, we note that (i) once the intangibles are fully amortized, the intangibles will not be replaced with cash costs 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 (ii) although we set the amortization expense based on useful life of the various assets at the time of the transaction, we cannot influence the timing and amount of the future amortization expense recognition once the lives are established. , click OK to +178.7 % in the latest trading session, marking a %. 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