#6 - Qorvo (NASDAQ:QRVO)
Qorvo (NASDAQ:QRVO) is another of the smaller players in the semiconductor industry. However, the company’s growth has paralleled the SOXX ETF with 16% year-to-date growth. In what will sound like a broken record, Qorvo had a solid beat when it released its third-quarter earnings report. Like Skyworks Solutions, Qorvo is more of a pure play on 5G.
Like Skyworks, Qorvo is a radio frequency (RF) chipmaker that provides RF filters, switches, and power amplifiers that are used in mobile phones. The company looks to benefit from new 5G specifications that will create an increased need for the company’s products.
The company has contracts with the world’s largest smartphone manufacturers. The demand for RF content is exploding due to 5G and QRVO stock is benefiting as a result. The company relied on Apple for 32% of its revenue in 2019.
However, Qorvo also supplies its products in applications including infrastructure, aerospace, and the Internet of Things (IoT) ecosystem.
About Qorvo
Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.
Read More - Current Price
- $69.25
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 13 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $102.88 (48.6% Upside)
