Qorvo® Receives 2024 Most Respected Public Semiconductor Company Award from the GSA

GREENSBORO, N.C., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Qorvo^® (NASDAQ:QRVO), a leading global provider of connectivity and power solutions, has received the 2024 award for Most Respected Public Semiconductor Company in its category by the Global Semiconductor Alliance (GSA). This is the second time Qorvo has been honored with this award, having earned it in the same category in 2022.

GSA recognizes semiconductor companies that demonstrate excellence through their success, vision, strategy and future opportunities in the industry, an honor celebrated annually at the GSA Awards Dinner. Being selected as a nominee is a significant achievement and winning a GSA Award is an even greater distinction, recognized globally as one of the most prestigious honors a semiconductor company can receive.

Jodi Shelton, president and co-founder of GSA, said, "Qorvo exemplifies leadership in diverse markets, combining advanced technologies and world-class design to tackle complex challenges. Their innovation and strategy have cemented their role as a driving force in the semiconductor industry. We are proud to once again honor them with the Most Respected Public Semiconductor Company award for their sustained excellence and impact on technology."

Bob Bruggeworth, president and chief executive officer of Qorvo, said, "We are deeply honored to receive this prestigious recognition once again from GSA, following our win in 2022. For more than 40 years, our technology has been at the core of systems that connect, protect and power the planet. As we prepare to celebrate our tenth anniversary as Qorvo, this award reaffirms our ongoing commitment to delivering innovative solutions and building strong partnerships that drive progress in our industry."

GSA is a leading industry organization representing 300-plus corporate members, including more than 120 public companies. GSA provides a unique, neutral platform for collaboration, where global executives interface and innovate with peers, partners and customers to accelerate industry growth and maximize return on invested and intellectual capital. Members of the GSA represent 75 percent of the $575-plus billion semiconductor industry, and they continue to grow. For more information, visit www.gsaglobal.org.

About Qorvo

Qorvo (NASDAQ:QRVO) supplies innovative semiconductor solutions that make a better world possible. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including automotive, consumer, defense & aerospace, industrial & enterprise, infrastructure and mobile. Visit www.qorvo.com to learn how our diverse and innovative team is helping connect, protect and power our planet.

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under U.S. federal securities laws. Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results; our substantial dependence on developing new products and achieving design wins; our dependence on a few large customers for a substantial portion of our revenue; 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 pandemic, which has and will likely continue to negatively impact the global economy and disrupt normal business activities and which may have an adverse effect on our results of operations; our dependence on third parties; risks related to sales through distributors; risks associated with the operation of our manufacturing facilities; business disruptions; poor manufacturing yields; increased inventory risks and costs due to timing of customer forecasts; our inability to effectively manage or maintain evolving relationships with platform providers; risks from international sales and operations; economic regulation in China; changes in government trade policies, including imposition of tariffs and export restrictions; our ability to implement innovative technologies; underutilization of manufacturing facilities as a result of industry overcapacity; 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; restrictions imposed by the agreements governing our debt; volatility in the price of our common stock; damage to our reputation or brand; fluctuations in the amount and frequency of our stock repurchases; our recent and future acquisitions and other strategic investments could fail to achieve financial or strategic objectives; our ability to attract, retain and motivate key employees; our reliance on our intellectual property portfolio; claims of infringement of third-party intellectual property rights; security breaches and other similar disruptions compromising our information; theft, loss or misuse of personal data by or about our employees, customers or third parties; warranty claims, product recalls and product liability; and risks associated with environmental, health and safety regulations and climate change. Many of the foregoing risks and uncertainties are and will continue to be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result. These and other risks and uncertainties, which are described in more detail in Qorvo's most recent Annual Report on Form 10-K and in other reports and statements filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.