Qorvo Inc
QRVO: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$155.00 | Bcdlm | Lvsnzwtf |
Our Long-Term Outlook for Qorvo Remains Intact Despite Some Near-Term Unease; $190 FVE
No-moat Qorvo reported solid fiscal third-quarter results and provided investors with a decent fourth-quarter outlook due to expected supply stability and increased segment demand. We will maintain our fair value estimate of $190. Shares fell approximately 7% after hours as management sounded cautious about subsequent quarters. Yet we still view Qorvo as fundamentally undervalued, as we like the company's exposure to 5G smartphones and infrastructure equipment.