What Do Hedge Funds Have to Say about the Upcoming Merger between PMC-Sierra and Skyworks Solutions?

Hedge funds were bullish on PMC-Sierra and they are big winners from the merger as our data show they owned 39.30% of PMC-Sierra Inc (NASDAQ:PMCS)’s float in the second quarter. A total of 27 funds reported stakes worth $664.22 million in the last round of 13F filings, up from 23 funds and $724.63 million respectively a quarter earlier. Eric Bannasch‘s Cadian Capital increased its position by 4% to 29.68 million shares, while George Soros’ Soros Fund Management raised its stake by 115% to 6.07 million shares. Moreover, Soros further boosted its position to 10.69 million shares at the beginning of September. Glenn Russell Dubin’s Highbridge Capital Management upped its holding by 58% to 902,604 shares too.

In this way, if the acquisition of PMC-Sierra caught you off guard, smart money has long anticipated this transaction as they have kept buying shares of the company. This emphasizes the importance of following the hedge fund activity and shows how one can emulate their moves.