Top 5 Stock Picks of Legendary Value Investor Seth Klarman

2. Qorvo, Inc. (NASDAQ:QRVO)

Number of Hedge Fund Holders: 44

Percentage of Baupost Group’s 13F Portfolio: 9.18%

Baupost Group’s Stake Value: $929.9 million

Qorvo, Inc. (NASDAQ:QRVO) is a US-based semiconductor firm which offers products and services used in the wireless and wired connectivity industries around the globe. As of Q4 2021, Klarman’s Baupost Group increased its stake in the firm by 17% over the previous quarter to consist of 5.94 million shares valued at almost $930 million. This made Seth Klarman the largest stakeholder of Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter of 2021.
On April 18, Mizuho analyst Vijay Rakesh lowered the firm’s price target on Qorvo, Inc. (NASDAQ:QRVO) to $135 from $155 and maintained a ‘Neutral’ rating on the shares, attributing the price target decline to weaker 5G demand and extended Covid lockdowns in China.
Reporting its fourth quarter earnings on February 2, Qorvo, Inc. (NASDAQ:QRVO) posted an EPS of $2.98 which beat estimates by $0.22. Revenue for the quarter was recorded at $1.11 billion, above analysts’ forecasts by $8.11 million.
Out of all the hedge funds tracked by Insider Monkey, Qorvo, Inc. (NASDAQ:QRVO) was recorded in the portfolios of 44 hedge funds in the fourth quarter of 2021, with combined holdings worth $2.15 billion. The same number of hedge funds held positions in the firm a quarter ago as well.