What Do Hedge Funds Think of Skyworks Solutions Inc (SWKS)?

Intriguingly, Jim Simons’s Renaissance Technologies sold off the largest investment of the “upper crust” of funds watched by Insider Monkey, comprising about $41.7 million in stock, and Ken Heebner’s Capital Growth Management was right behind this move, as the fund dumped about $32.8 million worth. These moves are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s also examine hedge fund activity in other stocks similar to Skyworks Solutions Inc (NASDAQ:SWKS). We will take a look at EnergySolutions, Inc. (NYSE:ES), Omnicom Group Inc. (NYSE:OMC), SK Telecom Co., Ltd. (ADR) (NYSE:SKM), and Alliance Data Systems Corporation (NYSE:ADS). This group of stocks’ market valuations match SWKS’s market valuation.

As you can see these stocks had an average of 18.25 hedge funds with bullish positions and the average amount invested in these stocks was $577 million. That figure was $572 million in SWKS’s case. Alliance Data Systems Corporation (NYSE:ADS) is the most popular stock in this table. On the other hand SK Telecom Co., Ltd. (ADR) (NYSE:SKM) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Skyworks Solutions Inc (NASDAQ:SWKS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.