Mutual Funds Enjoy Big Week from Skyworks Solutions

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.

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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.

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The Bottom Line

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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.