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Mutual Funds Enjoy Big Week from Skyworks Solutions

Jul 21, 2014

Skyworks Solutions (SWKS), a chipmaker that enables smartphones and other mobile devices to connect wirelessly to the Internet, gained over 12% on the week following earnings results that showed a better-than-expected 54% jump in fiscal Q3 profit. Sales for the period rose 35%, also beating forecasts.

Quinn Bolton, an analyst from Needham & Co reiterated a “Buy” rating on the stock, while raising his target to $60 from $50. The analyst sees the company positioned well to benefit from Apple’s coming products, and the growing demand for wireless devices in China.

With the shares up an astounding 85% this year, several mutual funds are enjoying the surge in stoc prices..

Vanguard Windsor Inv (VWNDX) has the largest exposure, owning 4.65M shares, or 2.46% of shares outstanding. The fund is up 8.55% YTD.

Oppenheimer Main Street Mid Cap A (OPMSX) owns 3.4M shares and the stock makes up nearly 4% of the fund’s assets, a pretty big bet that is paying off handsomely. The fund is up 6.76% YTD.

Here’s a look at the overall top 10 mutual fund holders of the stock.

The Bottom Line

Overall, the largest category holdings of Skyworks shares tend to be in Large Cap Blend Funds, where 223 funds currently hold a position. Large Cap Growth mutual funds also have exposure to shares, with 169 funds having a stake. With the market cap now approaching the $10B mark, we anticipate more large cap-focused funds will start seeing this stock show up on their radar.