V2 Capital owns 76,180 shares of TE Connectivity Ltd (NYSE:TEL), with a value of $5.46 million. The position was also a new one, and in fact the largest new position V2 opened (though again, most of its positions are very close in value). TE Connectivity Ltd (NYSE:TEL) has seen a large volume of insider sales during 2015 as shares appreciated by more than 13%, culminating with the sale of 53,359 shares by Chairman and CEO Thomas Lynch on April 9. Shares have fallen about 4% in the second quarter though after a fairly wide earnings miss of more than 8%, though earnings were up by 6% year-over-year at $0.91. TE Connectivity Ltd (NYSE:TEL) had a very bullish new investor during the fourth quarter of 2014 in Ned Sedaka’s Para Advisors, which had 9% exposure to the stock in its small portfolio, making it the fund’s top long position.
Microchip Technology Inc. (NASDAQ:MCHP) is another of V2 Capital’s tech picks, with the fund owning 110,918 worth $5.42 million. Microchip Technology Inc. (NASDAQ:MCHP) releases it first quarter results after the closing bell later today and will be looking to build momentum off its last earnings report, which beat estimates and year-ago earnings at $0.60. The semiconductor industry is a challenging one for several reasons, which include shrinking margins, high production costs, and fierce competition, and that is reflected in Microchip’s 52-week performance, which stands at just 1%. Billionaire Ken Griffin is a firm believer in Microchip Technology Inc. (NASDAQ:MCHP) nonetheless, more than tripling his position during the fourth quarter to more than 1.81 million shares.
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