Why Dreamworks (DWA) and Nvidia (NVDA) Are Among Today’s Surging Stocks

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Let’s now focus our attention on Skyworks Solutions Inc. (NASDAQ:SWKS), whose shares are up by nearly 6% so far today. Apple Inc. (NASDAQ:AAPL)’s chip supplier posted its financial results for the fourth quarter and full 2015 fiscal year that ended October 2, 2015 today. Skyworks reported non-GAAP diluted earnings per share of $1.52, which beat its guidance of $1.51 per share, and marked a 36% increase year-over-year. Skyworks Solutions Inc. (NASDAQ:SWKS)’s top-line reached $880.8 million for the quarter, which was up by 23% year-over-year and surpassed the company’s guidance of $875 million. According to Thomson Reuters, analysts had expected earnings per share of $1.52 on revenue of $878 million. 36 hedge funds within our database held positions in the company at the end of the June quarter, accumulating 4.10% of its outstanding shares. Louis Navellier’s Navellier & Associates reported owning approximately 327,000 shares of Skyworks Solutions Inc. (NASDAQ:SWKS) during the current round of 13F filings

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Last but not least, NVIDIA Corporation (NASDAQ:NVDA) has seen its stock skyrocket by over 14% so far today thanks to its strong third quarter financial results. The visual computing company reported a record quarterly top-line of nearly $1.31 billion, which was up by 7% year-over-year and by 13% quarter-over-quarter. Its GAAP earnings per diluted share came to $0.44, compared to $0.31 reported in the same quarter a year ago. NVIDIA Corporation (NASDAQ:NVDA) also announced a quarterly cash dividend of $0.115 per share, which compares to the previously-paid dividend of $0.0975 per share. Let’s not forget to mention that the shares of the company have advanced by more than 58% since the beginning of the year, so one should closely consider the company’s relatively rich valuation if intending to make an investment in the stock. The number of hedge funds with positions in the company dropped to 30 from 34 during the second quarter, while the value of these positions declined to $422.12 million from $569.88 million quarter-over-quarter. Cliff Asness’ AQR Capital Management reported ownership of 4.02 million NVIDIA Corporation (NASDAQ:NVDA) shares as of June 30.

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Disclosure: None

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