GT Advanced Technologies Inc (NASDAQ:GTAT) was in 13 hedge funds’ portfolio at the end of March. GTAT investors should be aware of a decrease in hedge fund sentiment of late. There were 17 hedge funds in our database with GTAT holdings at the end of the previous quarter.
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Now, it’s important to take a gander at the key action encompassing GT Advanced Technologies Inc (NASDAQ:GTAT).
What have hedge funds been doing with GT Advanced Technologies Inc (NASDAQ:GTAT)?
In preparation for this quarter, a total of 13 of the hedge funds we track were bullish in this stock, a change of -24% from the first quarter. With hedgies’ sentiment swirling, there exists a select group of notable hedge fund managers who were upping their holdings meaningfully.
When looking at the hedgies we track, Kerr Neilson’s Platinum Asset Management had the largest position in GT Advanced Technologies Inc (NASDAQ:GTAT), worth close to $11.2 million, comprising 0.2% of its total 13F portfolio. Sitting at the No. 2 spot is Prescott Group Capital Management, managed by Phil Frohlich, which held a $3.2 million position; the fund has 0.7% of its 13F portfolio invested in the stock. Remaining hedgies that are bullish include Joel Greenblatt’s Gotham Asset Management, Andrew R. Midler’s Savitr Capital and Eric Sprott’s Sprott Asset Management.
Due to the fact that GT Advanced Technologies Inc (NASDAQ:GTAT) has faced a declination in interest from hedge fund managers, logic holds that there exists a select few hedge funds that slashed their entire stakes at the end of the first quarter. It’s worth mentioning that Bart Baum’s Ionic Capital Management dumped the biggest position of the 450+ funds we track, worth an estimated $1.1 million in call options. Glenn Russell Dubin’s fund, Highbridge Capital Management, also cut its stock, about $0.4 million worth. These moves are important to note, as aggregate hedge fund interest fell by 4 funds at the end of the first quarter.
Insider trading activity in GT Advanced Technologies Inc (NASDAQ:GTAT)
Insider purchases made by high-level executives is at its handiest when the company in focus has seen transactions within the past six months. Over the last six-month time period, GT Advanced Technologies Inc (NASDAQ:GTAT) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to GT Advanced Technologies Inc (NASDAQ:GTAT). These stocks are JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), NVE Corporation (NASDAQ:NVEC), Trina Solar Limited (ADR) (NYSE:TSL), IXYS Corporation (NASDAQ:IXYS), and CEVA, Inc. (NASDAQ:CEVA). This group of stocks are the members of the semiconductor – specialized industry and their market caps are closest to GTAT’s market cap.