Qorvo, Inc. QRVO is looking forward to expanding its 5G technology. The enhanced 5G infrastructure solutions portfolio now comprises industry’s first 28 GHz Gallium Nitride (GaN) integrated front end modules (FEMs) — QPF4001.

The small-sized, highly integrated and efficient new FEMs support frequency bands ranging from 26GHz (gigahertz) to 30GHz. The FEMs can function on both pre-5G and 5G based base station architecture. Qorvo’s GaN technology has enabled it to support speed, latency, reliability and the emerging 5G infrastructure.

Per an EJL research report, shipments for massive MIMO driving radio transceivers are projected to reach 500 million units by 2022. Per Qorvo estimates, the market for massive MIMO base station is anticipated to yield $1 billion by 2022 in RF solutions. The company’s expanding RF product portfolio pertaining to 5G and massive MIMO base stations bodes well in the long haul.

Prior to this launch, Qorvo had announced five other amplifiers, namely QPB9329, QPB9319, QPA9120, QPA4501 & QPA3506 — which the company claims to be the industry’s first GaN FEMs for 39GHz.

The company has participated in dozens of 5G field trials and demonstrations. We believe an expanding portfolio enabling 5G deployment augurs well for the company.

Projections Bode Well

According to a MarketsandMarkets report, the GaN power device market is projected to witness CAGR of 29.1% to reach $1.89 billion by 2023. The base year 2017 valuation was $0.408 billion and the time period under consideration is 2017-2023.

Introduction of the new products strengthens Qorvo’s GaN portfolio and provides it a competitive edge in the relevant market.

Qorvo, Inc. Price

Qorvo, Inc. Price | Qorvo, Inc. Quote

Bottom Line

Expanding portfolio bodes well for Qorvo. The company’s 5G and GaN solutions hold promise. The company is well poised to seize growth opportunities that the corresponding markets offer.

However, customer concentration, particularly from Apple AAPL and Huawei remains a significant headwind for Qorvo.

Zacks Rank & Key Picks

Qorvo carries a Zacks Rank #4 (Sell).

Few better-ranked stocks in the broader technology sector are Upland Software UPLD and Twitter, Inc. TWTR, both flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rate for Upland Software and Twitter is currently pegged at 20% and 22.1%, respectively.

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