5 High Growth Value Stocks to Buy According to Seth Klarman

2. Qorvo, Inc. (NASDAQ:QRVO)

Number of Hedge Fund Holders: 35

Baupost Group’s Stake Value: $519,517,000

3-year Revenue Growth: 29.9%

Qorvo, Inc. (NASDAQ:QRVO) is a North Carolina-based company that develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. In Q4 2022, Seth Klarman held 5.7 million shares of Qorvo, Inc. (NASDAQ:QRVO) worth $519.5 million, representing 8.47% of the total 13F securities. 

On February 3, Mizuho analyst Vijay Rakesh raised the firm’s price target on Qorvo, Inc. (NASDAQ:QRVO) to $100 from $93 and reiterated a Neutral rating on the shares following the “good” Q4 results.

According to Insider Monkey’s Q3 data, Qorvo, Inc. (NASDAQ:QRVO) was part of 35 hedge fund portfolios, compared to 30 in the prior quarter. Jim Simons’ Renaissance Technologies is a significant position holder in the company, with 993,706 shares worth $79 million. 

Here is what Vulcan Value Partners has to say about Qorvo, Inc. (NASDAQ:QRVO) in its Q1 2022 investor letter:

“Qorvo Inc. is one of the two major providers of radio frequency RF systems which are critical components of mobile devices including smartphones and the Internet of Things (IoT). Two transitory concerns have recently affected the company’s stock price. First, supply chain issues continue to be a constraint. Second, Apple recently announced its decision to decrease production of its iPhone SE model. Neither of these issues threatens their long-term competitive position. Qorvo’s value is stable and despite the recent pressure on the stock price, we feel its long-term prospects are promising.”