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Trader beating market buys Apple supplier

A Skyworks Solutions display at a trade show.
Source: Skyworks Solutions
A Skyworks Solutions display at a trade show.

CNBC "Halftime Report" trader Joe Terranova, whose model portfolio is up 8 percent this year, scooped up shares of Skyworks Solutions, after the acquisition of PMC-Sierra.

Skyworks Solutions (SWKS), a semiconductor maker and supplier to Apple, announced Monday a $2 billion deal to acquire PMC-Sierra (PMCS), a designer of semiconductor products for communications network equipment.

Here's why the money manager believes SWKS could be ready to trend higher: