Themes / Pair
Inactive · established relationshipLatest completed snapshot · Aug 24 · 15:57 ET

MARKET-DISCOVERED GROUP

Semiconductor Materials

THE TRADER READSWKS dominates an otherwise mixed group path

0 of 2 measured SPY-adjusted paths align to the mixed across 1.9 effective names. SYNA is also moving with filing-linked members. Capital-flow agreement is 4%, so the basket is not yet clean. No verified headline preceded the measured move.

Price breadth2 of 2 falling+0.1% median path versus SPY
Capital-flow alignment4%Price breadth is not yet confirmed by flow
Activity nowCalmActivity score 5/100 · lift 0.8×
Evidence depth7 episodes16 observed active sessions
EVIDENCE CLOCK

What happened, in timestamp order

2 timed events · 09:35–15:55 ET
TIMING READNo verified timestamped headline was found within 24 hours of the first measured price move in the available common-bar window. The move currently reads as market-led or unexplained.
  1. 5-minute inferenceQRVO registered the first material downside path

    -1.07% session path at the threshold · QRVO

  2. 5-minute inferenceSWKS registered a material upside path

    +0.36% session path at the threshold · SWKS

2 earlier filing context receipts

MON, MAY 4SWKS filing documented shared operating contextdemand / volume affecting revenue · date precision only

THU, MAY 7QRVO filing documented shared operating contextdemand / volume affecting revenue · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.
THEME CONSTRUCTION

Broad move or one-stock disguise?

SPY-adjusted 5m paths

Observed movement is concentrated across 1.9 effective names. SWKS represents 61.0% of absolute path energy; 0 of 2 members align without a clean common direction.

ConstructionConcentrated61.0% from the largest path
Effective names1.9 / 2Movement diversity after concentration
Direction breadthMixedmixed relative path · 0 counter-moving
Largest moverSWKS 61.0%100.0% from the top two paths
SWKS61.0%Dominant mover · path +0.31% · basket +0.15pp
QRVO39.0%Dominant mover · path -0.20% · basket -0.10pp
Top six names by movement share are shown. Movement share measures absolute 5-minute path energy; signed basket contribution is equal-weight. Neither is a portfolio weight or causal attribution.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
HOW THE PRICE MOVE SPREAD

Observed session sequence

5-minute bars · inferred
  1. QRVO moved lower firstFirst member to clear the material path threshold · path -1.07%
  2. SWKS registered a material higher path340m after the first price move · path +0.36%

Sequence inferred from aligned 5-minute price paths; it is not a causal ordering.

RELATIVE CO-MOVEMENT

How the members are behaving together

SPY-adjusted
Aug 25 · 09:35 ETMove visible 09:45 ETAug 25 · 15:55 ET
Group median +0.06%Strongest relative path SWKSWeakest relative path QRVO

Observed member paths adjusted against SPY. The dashed marker shows when the median move first cleared a material threshold; shading marks the latest 20% of the observed window.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

2/2 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across QRVO, SWKS.

demand / volume affecting revenue

“These revenue increases were partially offset by a $27.7 million decrease in revenue as a result of the sale of the SiC power device business in January 2025, as well as a $9.0 million decrease in revenue from our power management business due to lower demand from our customers whose products have been impacted by tariffs.”

QRVO 10-K · 2026-05-08
restructuring affecting expense

“The discrete tax expense for the nine months ended December 27, 2025 was primarily due to net discrete tax charges associated with restructuring activities initiated in fiscal 2026 (refer to Note 10 of the Notes to Condensed Consolidated Financial Statements for additional information), partially offset by the tax effects of merger-related costs.”

QRVO 10-Q · 2026-01-28
credit / rates affecting interest expense

“Interest expense for fiscal years 2026 and 2025 also includes financing costs related to certain inventory (subject to repurchase) in connection with a supply agreement.”

QRVO 10-K · 2026-05-08
CONFIRMATION NETWORK

Outsiders and cross-asset links

1 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

SYNAMoving with group

SWKS · text peer

MTSINot confirming

SWKS · text peer

SLABNot confirming

SWKS · text peer

SMTCNot confirming

SWKS · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
QRVOSWKS

2/2 active0 rising · 2 falling

MemberUnusual activityToday's moveRead now
QRVOQorvo, Inc.
Most unusual · 100/100
-1.1%
Dominant path moverActive in 100% of observed group sessions
SWKSSkyworks Solutions, Inc.
Elevated · 83/100
-1.8%
Dominant path moverActive in 100% of observed group sessions
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
QRVOQorvo, Inc.Most unusual-1.1%100% of 16 sessionsMost unusual activity in this snapshot; performance direction may differ.
SWKSSkyworks Solutions, Inc.Participating-1.8%100% of 16 sessionsPrice participation with accumulating signed flow.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Observed follow-through

5/5 events completed
30 minutes-0.45%0% continuation · n=3Median MFE +0.29% · MAE -2.34%
60 minutes-0.89%33% continuation · n=3Median MFE +0.29% · MAE -2.34%
Session close-0.36%50% continuation · n=2Median MFE +1.08% · MAE -2.58%
Next-session close-2.34%33% continuation · n=3Median MFE +0.29% · MAE -2.34%
Only point-in-time live watcher observations and conservative same-day EOD observations are included. Later backfills and replay runs are excluded.
moderate structural support

7 completed episodes across 16 active sessions provide moderate historical support. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support48 daysHow often the cohort identity was observed
Completed episodes7Separate periods of broad group activity
Active sessions16Completed session observations, not trades
2026-08-17 → 2026-08-204 active sessions100% composition consistency through the episode
2026-08-04 → 2026-08-072 active sessions100% composition consistency through the episode
2026-07-29 → 2026-07-302 active sessions100% composition consistency through the episode
2026-07-231 active session100% composition consistency through the episode
2026-07-13 → 2026-07-164 active sessions100% composition consistency through the episode
2026-06-29 → 2026-07-022 active sessions100% composition consistency through the episode
MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS
QRVO100% · 7 episodes
SWKS100% · 7 episodes