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Qorvo, Inc. Message Board

  • boar292hog boar292hog Jun 5, 2010 4:58 PM Flag

    Net income up 550% RFMD from...

    June of 2009 to Apr of 2010. Did someone say POS at 2.00!? LOL!
    Cashflow up/income up/product lines up/ PE low...whats not to like!
    Oh thats right, all the little weinerdogs out there who like day trading for a few cents! LOL!

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    • Repeated financials on Yahoo are awesome!!!
      RFMD PPS is shocking!!!
      What gives??? Bad Breath???

    • The Balance Sheet and Shareholder Value.

      The Bad:
      In 2007 Rfmd paid 100 million shares of Rfmd and $300 million cash for Sirenza, roughly $900 million.

      The Mitigating:

      Rfmd since bought Filtronics for $25 million thereby cancelling a $100 million capex planned. Savings $75 million.

      Rfmd bought back 30 million shares at $3.33 of the 100 million valued at $6.14 in the Sirenza deal. Savings(?) $85 million.

      Rfmd paid down $190 million in debt last year.

      $350 million of excess has been taken care of by Rfmd leaving $550 million of Sirenza still unaccounted.

      Even now almost three years later, Rfmd has not cleaned up the balance sheet.

      Each of those years, Swks has been taking that same $175 million in cashflow, reducing debt and building not just net cash but cash to over $400 million.

      It's been over a year since Bruggeworth used the words "shareholder value". Instead, the rhetoric is
      operational excellence, product diversification, and return on invested capital.

      When Rfmd does something for shareholders and to clean up the balance sheet, then that'll be the time to ask, "What's not to like?"

      • 1 Reply to fallonjeff
      • Jeff, great points one and all. I would argue that your account is purely looking backward and doesn't take into account, the following:1) RFMDs ever growing and diversified product line. As an example, RFMDs 6 inch pv panel for solar far and way outshines todays products around the world.2) Smart phone technology is not just in asia. 3) Smart everything is in the works, power grids, televisions, appliances and RFMD is/will participate.4) It is RFMD as of late who is gaining market share thru both technology and pricing. 5) This ship has turned around and the nay sayers have not been right for this company or this industry for coming up on a year now. 6) Finally, don't think for a minute that RFMD is sitting back not working on diversifying its client/customer base.
        I'll take the word/views of the many analysts who have upgraded their views or started coverage in a positive light before anyones view on this board. Also, though I don't like SOROS, I like the fact that he is committed on this stock.
        One more thing, I like positive cashflow and I particularily like growing positive cashflow.