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Qorvo (QRVO) Expands MediaTek Tie-Up to Secure Design Wins

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Qorvo Inc. (QRVO - Free Report) recently expanded its long-term collaboration with Taiwan-based semiconductor firm MediaTek to secure multiple design wins for products related to 5G connectivity. The design wins are likely to augment the leading position of the company in the market and accelerate innovation within mobile, networking, automotive and other related sectors.

In smartphones, Qorvo has secured design wins for premium 5G devices, spanning its broad portfolio of highly integrated advanced cellular solutions. The reference designs combine MediaTek chipsets and SoCs with Qorvo’s RF front-end solutions for superior throughput, low latency, high power efficiency and range.

The design wins within the automotive sector are likely to facilitate improved 5G connectivity with support for enhanced safety and entertainment features. These include telematics, advanced driver-assistance systems, autonomous driving, emergency calling and in-vehicle connectivity and entertainment services. The company also secured Wi-Fi 6, Wi-Fi 6E and Wi-Fi 7 design wins in a range of devices, including service provider gateways and smartphones.

Qorvo's RF Flex solutions have been selected to support multiple upcoming leading 4G reference designs. RF Flex delivers best-in-class current consumption to enable superior device performance and leading-edge design flexibility to simplify regional customization.

The company is expanding its opportunities across markets, customers and product categories while maintaining its commitment to technology leadership and productivity gains. Qorvo offers the most complete product portfolio, targeting the highest growth segments of its market, including filters, switches and tuners. It is well-positioned to win some of the industry's highest growth opportunities by leveraging its diversified product portfolio, systems-level expertise, R&D and manufacturing scale and internal assembly and test capabilities.

Qorvo is expected to improve its financial performance as it aims to invest in building a wider technology, supporting better-than-industry growth, greater diversification, a richer mix of new products and an expanding gross margin. The company introduced highly integrated front-end solutions that simplify and accelerate the implementation of multimode, multi-band 4G smartphones and tablets. These new RF Fusion front-end solutions showcase the company's ability to help leading OEMs to quickly launch their next-generation flagship devices.

The stock has lost 35.6% over the past year compared with the industry’s decline of 42.4%.

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Qorvo currently has a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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