Qualys Inc (QLYS), ServiceNow Inc (NOW) & Two Other Stocks: Should You Follow ShearLink Capital Into Its Four Top Tech Picks?

We are continuing with the ShearLink Capital’s top tech pick, but this time instead of a company that offers cloud-based solutions, we have a company that produces analog semiconductors, Skyworks Solutions Inc (NASDAQ:SWKS). The fund significantly raised its stake in the company, by 168% to 369,991 shares, creating a position that was valued at at $23.41 million at the end of June. Expectations weren’t disappointed as the stock returned 20.8% in the next three months. At the end of the second quarter, a total of 33 of the hedge funds tracked by Insider Monkey held shares of Skyworks Solutions, down by 15% over the quarter. The largest stake in Skyworks Solutions Inc (NASDAQ:SWKS) was held by Citadel Investment Group, which reported a $235. position. On the secons spot was Platinum Asset Management with a $65.6 million position. Other investors bullish on the company included Hoplite Capital Management, and Roystone Capital Partners.

The last stock among ShearLink Capital’s top tech picks we are going to discuss is another company that produces semiconductor processors, Cavium Inc (NASDAQ:CAVM). During the June quarter, the fund acquired 589,816 shares worth 22.77 million. This was a great addition to the fund’s portfolio since the stock surged by 50.8% in the following three months. At the end of the second quarter, a total of 20 of the hedge funds tracked by Insider Monkey were bullish on this stock, up by 25% from one quarter earlier. Among these funds, Citadel Investment Group, managed by Ken Griffin, held the largest position in Cavium Inc (NASDAQ:CAVM), which was worth $79.7 million. The second largest stake was held by Raging Capital Management, led by William C. Martin, holding a $32.2 million position. Other peers that are bullish encompass Phill Gross and Robert Atchinson’s Adage Capital Management, and Clint Carlson’s Carlson Capital.

Disclosure: None