Company profile

Ticker
QRVO
Exchange
Website
CEO
Robert A. Bruggeworth
Employees
Incorporated in
Location
Fiscal year end
Former names
Rocky Holding, Inc.
SEC CIK

QRVO stock data

(
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FINRA relative short interest over last month (20 trading days) ?

Calendar

20 May 20
2 Jun 20
3 Apr 21

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 787.77M 869.07M 806.7M 775.6M
Net income 50.39M 161.36M 83.04M 39.54M
Diluted EPS 0.43 1.36 0.7 0.33
Net profit margin 6.40% 18.57% 10.29% 5.10%
Operating income 102.15M 153.07M 112.77M 55.23M
Net change in cash -382.79M 510.93M -42.81M -81.44M
Cash on hand 714.94M 1.1B 586.79M 629.6M
Cost of revenue 451.99M 500.96M 483.12M 481.31M
Annual (USD) Mar 20 Mar 19 Mar 18 Apr 17
Revenue 3.24B 3.09B 2.97B 3.03B
Net income 334.33M 133.13M -40.29M -16.56M
Diluted EPS 2.8 1.05 -0.32 -0.13
Net profit margin 10.32% 4.31% -1.35% -0.55%
Operating income 423.22M 216.47M 70.28M 88.06M
Net change in cash 3.9M -215M 380.57M 119.58M
Cash on hand 714.94M 711.04M 926.04M 545.46M
Cost of revenue 1.92B 1.9B 1.83B 1.9B

Financial data from Qorvo earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
15 May 20 Murphy Mark J. Common Stock Sell Dispose S 94.03 4,000 376.12K 108,260
14 May 20 Bruggeworth Robert A Common Stock Sell Dispose S 98.55 1,637 161.33K 177,807
14 May 20 Bruggeworth Robert A Common Stock Sell Dispose S 97.53 1,915 186.77K 179,444
14 May 20 Bruggeworth Robert A Common Stock Sell Dispose S 96.45 5,630 543.01K 181,359
14 May 20 Bruggeworth Robert A Common Stock Sell Dispose S 95.56 2,550 243.68K 186,989
14 May 20 Bruggeworth Robert A Common Stock Sell Dispose S 94.38 3,500 330.33K 189,539
14 May 20 Fego Paul J Common Stock Sell Dispose S 95.84 1,736 166.38K 46,460
12 May 20 Creviston Steven E Common Stock Grant Aquire A 0 19,961 0 69,018
12 May 20 Bruggeworth Robert A Common Stock Sell Dispose S 101.29 2,483 251.5K 159,993
12 May 20 Creviston Steven E Common Stock Sell Dispose S 102.76 2,000 205.52K 53,444
87.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 500 544 -8.1%
Opened positions 65 139 -53.2%
Closed positions 109 36 +202.8%
Increased positions 191 151 +26.5%
Reduced positions 165 180 -8.3%
13F shares
Current Prev Q Change
Total value 8.08B 11.99B -32.6%
Total shares 100.1M 103.02M -2.8%
Total puts 1.37M 2.63M -47.7%
Total calls 1.19M 2.15M -44.8%
Total put/call ratio 1.2 1.2 -5.4%
Largest owners
Shares Value Change
Vanguard 13.61M $1.1B +2.2%
Vulcan Value Partners 9.87M $795.72M +19.6%
BLK BlackRock 9.13M $736.52M +2.8%
STT State Street 5.09M $410.77M -0.9%
Capital Research Global Investors 4.79M $386.39M -33.0%
Boston Partners 4.69M $378.22M +30.0%
Baupost 3.06M $246.93M +11.4%
Aqr Capital Management 2.81M $226.43M +19.9%
Geode Capital Management 2.02M $162.9M -2.2%
Renaissance Technologies 1.96M $157.83M +0.3%
Largest transactions
Shares Bought/sold Change
Capital Research Global Investors 4.79M -2.36M -33.0%
FMR 208.9K -1.64M -88.7%
Vulcan Value Partners 9.87M +1.62M +19.6%
AMP Ameriprise Financial 1.21M -1.46M -54.7%
Norges Bank 0 -1.45M EXIT
Boston Partners 4.69M +1.08M +30.0%
D. E. Shaw & Co. 841.36K -741.75K -46.9%
Amundi Pioneer Asset Management 717.84K +633.3K +749.0%
MNGPF Man 253.04K -629.79K -71.3%
JHG Janus Henderson 696.2K +495.57K +247.0%

Financial report summary

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Risks
  • Our operating results fluctuate.
  • Our operating results are substantially dependent on development of new products and achieving design wins as our industry’s product life cycles are short and our customers' requirements change rapidly.
  • We depend on a few large customers for a substantial portion of our revenue.
  • We face risks of a loss of revenue if contracts with the United States government or defense and aerospace contractors are canceled or delayed or if defense spending is reduced.
  • The COVID-19 outbreak could materially adversely affect our financial condition and results of operations.
  • We depend heavily on third parties.
  • We face risks associated with the operation of our manufacturing facilities.
  • Business disruptions could harm our business, lead to a decline in revenues and increase our costs.
  • If we experience poor manufacturing yields, our operating results may suffer.
  • We are subject to inventory risks and costs because we build our products based on forecasts provided by customers before receiving purchase orders for the products.
  • We sell certain of our products based on reference designs of platform providers, and our inability to effectively manage or maintain our evolving relationships with these companies may have an adverse effect on our business.
  • We are subject to risks from international sales and operations.
  • Economic regulation in China could adversely impact our business and results of operations.
  • Changes in government trade policies, including the imposition of tariffs and export restrictions, could limit our ability to sell our products to certain customers, which may materially adversely affect our sales and results of operations.
  • We operate in a very competitive industry and must continue to implement innovative technologies.
  • Industry overcapacity could cause us to underutilize our manufacturing facilities and have a material adverse effect on our financial performance.
  • We may not be able to borrow funds under our credit facility or secure future financing.
  • We may not be able to generate sufficient cash to service all of our debt, including our Notes, or to fund capital expenditures and may be forced to take other actions to satisfy our debt obligations and financing requirements, which may not be successful or on terms favorable to us.
  • The agreements and instruments governing our debt impose restrictions that may limit our operating and financial flexibility.
  • The price of our common stock has recently been and may in the future be volatile.
  • Damage to our reputation or brand could negatively impact our business, financial condition and results of operations.
  • Our recent and future acquisitions and other strategic investments, could fail to achieve our financial or strategic objectives, disrupt our ongoing business, and adversely impact our results of operations.
  • In order to compete, we must attract, retain, and motivate key employees, and our failure to do so could harm our business and our results of operations.
  • We rely on our intellectual property portfolio and may not be able to successfully protect against the use of our intellectual property by third parties.
  • We may be subject to claims of infringement of third-party intellectual property rights.
  • Security breaches and other disruptions could compromise our proprietary information and expose us to liability, which would cause our business and reputation to suffer.
  • We may be subject to theft, loss, or misuse of personal data by or about our employees, customers or other third parties, which could increase our expenses, damage our reputation, or result in legal or regulatory proceedings.
  • We are subject to warranty claims, product recalls and product liability.
  • We are subject to risks associated with environmental, health and safety regulations and climate change.
  • Compliance with regulations regarding the use of “conflict minerals” could limit the supply and increase the cost of certain metals used in manufacturing our products.
  • Our certificate of incorporation and bylaws and the General Corporation Law of the State of Delaware may discourage takeovers and business combinations that our stockholders might consider to be in their best interests.
  • Our operating results could vary as a result of the methods, estimates and judgments we use in applying our accounting policies.
  • Decisions we make about the scope of our future operations could affect our future financial results.
  • Changes in our effective tax rate may adversely impact our results of operations.
  • Changes in the favorable tax status of our subsidiaries in Singapore and Costa Rica would have an adverse impact on our operating results.
  • The enactment of international or domestic tax legislation, or changes in regulatory guidance, may adversely impact our results of operations.
Management Discussion
  • The table below presents a summary of our results of operations for fiscal years 2020 and 2019. See Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" of our Annual Report on Form 10-K for the fiscal year ended March 30, 2019, filed with the SEC on May 17, 2019, for a summary of our results of operations for the fiscal year ended March 31, 2018, which is incorporated by reference herein.
  • Revenue increased primarily due to higher demand for our mobile products in support of customers based in China, a Korea-based customer and our largest end customer, partially offset by lower demand for our base station products as a result of trade restrictions.
  • We provided our products to our largest end customer (Apple) through sales to multiple contract manufacturers, which in the aggregate accounted for 33% and 32% of total revenue in fiscal years 2020 and 2019, respectively. Huawei accounted for approximately 10% and 15% of total revenue in fiscal years 2020 and 2019, respectively. These customers primarily purchase RF solutions for a variety of mobile devices.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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