| Valuation method | Value, £ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 48.50 | -38 |
| Intrinsic value (DCF) | 33.48 | -57 |
| Graham-Dodd Method | 10.30 | -87 |
| Graham Formula | 3.00 | -96 |
Qorvo, Inc. is a leading global semiconductor company specializing in innovative RF (radio frequency) solutions for wireless, wired, and power markets. Headquartered in Greensboro, North Carolina, Qorvo operates through two key segments: Mobile Products and Infrastructure & Defense Products. The company provides cutting-edge technologies for smartphones, wearables, IoT devices, automotive connectivity, defense systems, and renewable energy applications. Qorvo's product portfolio includes RF power management ICs, ultra-wideband (UWB) SoCs, MEMS-based sensors, GaN amplifiers, and SiC power solutions, positioning it as a critical enabler of 5G, Wi-Fi 6/6E, and next-generation connectivity. With a strong focus on compound semiconductors, Qorvo serves OEMs and ODMs worldwide, leveraging its expertise in high-performance RF and power efficiency. The company's strategic relevance in the semiconductor sector is underscored by its role in enabling advanced wireless communications, defense electronics, and energy-efficient power solutions.
Qorvo presents a compelling investment case due to its strong positioning in high-growth RF semiconductor markets, including 5G infrastructure, smartphones, and defense applications. The company's diversified revenue streams across mobile, infrastructure, and defense segments mitigate cyclical risks. However, investors should note its exposure to smartphone market volatility, as seen in fluctuating earnings (diluted EPS of $0.58 in FY 2025). Qorvo's $6.89B market cap and 1.383 beta indicate moderate volatility relative to the broader market. While the company generates solid operating cash flow ($622.2M), its net income of $55.6M reflects margin pressures. The lack of dividends may deter income-focused investors, but Qorvo's technological leadership in GaN and UWB solutions offers long-term growth potential in IoT and automotive markets.
Qorvo competes in the highly competitive RF semiconductor industry, where it differentiates through its broad product portfolio and expertise in compound semiconductors (GaN and SiC). The company's competitive advantage stems from its integrated solutions, including front-end modules (FEMs) and system-in-package (SiP) designs, which are critical for space-constrained mobile devices. Qorvo's strong relationships with major smartphone OEMs and defense contractors provide stable demand, while its investments in UWB technology position it well for emerging applications like precision location tracking. However, the company faces pricing pressure from Asian competitors and depends on cyclical end markets. Qorvo's Infrastructure & Defense segment provides stability with longer design cycles, but the Mobile Products segment remains susceptible to smartphone demand fluctuations. The company's $1.02B cash position offers flexibility for R&D and strategic acquisitions, though its $1.55B debt load warrants monitoring. Qorvo's lack of a foundry business (unlike some competitors) makes it reliant on third-party manufacturing, potentially impacting margins during semiconductor shortages.