Список проголосовавших за комментарий " Qorvo: Color on Quarter (64.55)<ul><li>Craig Hallum notes mgmt attributed the weaker March to the now well publicized Samsung S8 launch delay they had called out nearly a month ago, as well as two launch delays from key Chinese customers. They also note that mgmt's expectations for handset volumes of flat to up slightly for FY2018 are modestly worse than their previous expectations, which they primarily attribute to some end-market weakness in China. Despite the March miss QRVO continues to reiterate they can drive double-digit revenue growth next year driven by content gains at flagship phones, namely at Samsung and Apple, and overall strength in IDP. They believe QRVO will need big volumes from the iPhone 8 to hit their double-digit growth target, and they are modeling ~8% y/y growth for FY2018 to account for a more conservative view on volumes and content growth at Apple.</li><li>Cowen raises tgt to $60 from $53. Items in QRVO's control were actually fine but the guide is what it is and certainly adds chum to waters that were starting to settle. These issues are unrelated to iPhone and guide supports a strong upcoming cycle. Ultimately, given our confidence in iPhone and prospective content gains, we are raising numbers/target to $60 so this is potentially attractive on a pull-back.</li><li>Mizuho raises tgt to $56 from $54. Qorvo reported DecQ rev/EPS in line with consensus and guided MarQ significantly below consensus, with GM slightly better (primarily with mix shift to IDP). QRVO offered a soft MarQ guide (~12% below consensus) due to flagship handset delays at two Chinese OEMs and a Korean OEM. With peer SWKS having an upside guide, they believe the second consecutive quarterly miss at QRVO could position SWKS and AVGO for share gains, especially as QRVO continues to focus on redesign and cost down.</li><li>Needham raises their QRVO tgt to $70 from $62. QRVO reported better than expected F3Q17 results that were overshadowed by a poor outlook for F4Q17. The guide for March was adversely affected by handset delays from two Chinese smartphone vendors and the delay of Samsung's GS8. Compounding the issue was a weaker than expected ramp of the North American version of the GS7 expected to fill the void left by the cancellation of the Note 7. Mgmt expressed confidence Q/Q growth to resume in June and forecasts DD Y/Y growth in FY18. While the near-term outlook is certainly disappointing, They do not believe the story has fundamentally changed and encourage investors to buy on weakness.</li><li>Drexel Hamilton notes that while Qorvo expects its dollar content in the S8 to increase, it is choosing to take a prudently conservative view of Samsung's unit volumes given the uncertainty of the OEM's global market share. They believe without better visibility as to the market share success of these three programs, Qorvo is simply being cautious in setting investor expectations following the last two quarters of disappointing margins. With the co trading at just 10x EPS estimates only five quarters out, they see how even in-line results from here could be a positive catalyst, particularly considering the valuations of many of its semiconductor peers; $72 tgt.</li><li><strong>QRVO -6.5% just above 60 premarket</strong>; RFMD peers: <strong>SWKS</strong> -2%, <strong>AVGO</strong> -1%.</li></ul>"