Nigam Arora of Marketwatch identified 3 stocks that are popular buys for smart money towards the end of the year. The results of a screen show that RF Micro Devices, SunEdison and GoPro are likely to be bought by the big guns.
RF MicroDevices’s share price should benefit from its merger with TriQuint by the end of the year. The new entity will be called Qorvo. In addition, as a supplier of components for Samsung and Apple devices, strong sales reported by these companies will be a boon to the stock. Nigam Arora cautions, however, that this is a short-term trade and not an investment, since the stock is overbought. But it should be good for a short-term pop.
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SunEdison announced a deal to expand into wind power by acquiring First Wind for $2.4 billion. The street likes this merger, and the company should see some upgrades. Around 30.2% of the stock is sold short, so a short squeeze could be around the corner.
GoPro has a sell rating from Arora, but it may make a profitable short-term trade, since the stock has declined and its items are hot holiday gift items.