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Hedge Funds Are Betting On Amkor Technology, Inc. (AMKR)

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Is Amkor Technology, Inc. (NASDAQ:AMKR) a good investment?

In the eyes of many traders, hedge funds are seen as overrated, old investment tools of a period lost to current times. Although there are In excess of 8,000 hedge funds trading today, Insider Monkey aim at the bigwigs of this club, about 525 funds. It is assumed that this group has its hands on the lion’s share of the hedge fund industry’s total assets, and by keeping an eye on their best picks, we’ve spotted a few investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Equally as necessary, bullish insider trading sentiment is a second way to look at the investments you’re interested in. Just as you’d expect, there are lots of stimuli for a corporate insider to get rid of shares of his or her company, but just one, very simple reason why they would initiate a purchase. Various empirical studies have demonstrated the market-beating potential of this strategy if investors understand where to look (learn more here).

Thus, we’re going to analyze the latest info about Amkor Technology, Inc. (NASDAQ:AMKR).

Hedge fund activity in Amkor Technology, Inc. (NASDAQ:AMKR)

At Q2’s end, a total of 18 of the hedge funds we track were long in this stock, a change of 13% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were upping their holdings meaningfully.

Amkor Technology, Inc. (NASDAQ:AMKR)When using filings from the hedgies we track, Saba Capital, managed by Boaz Weinstein, holds the biggest position in Amkor Technology, Inc. (NASDAQ:AMKR). Saba Capital has a $9.3 million position in the stock, comprising 1.1% of its 13F portfolio. Sitting at the No. 2 spot is Canyon Capital Advisors, managed by Joshua Friedman and Mitchell Julis, which held a $7.6 million position; the fund has 1.2% of its 13F portfolio invested in the stock. Other hedge funds that hold long positions include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Brian Kelly’s Asian Century Quest and D. E. Shaw’s D E Shaw.

As industrywide interest increased, certain bigger names were breaking ground themselves. Saba Capital, managed by Boaz Weinstein, initiated the most outsized position in Amkor Technology, Inc. (NASDAQ:AMKR). Saba Capital had 9.3 million invested in the company at the end of the quarter. Joshua Friedman and Mitchell Julis’s Canyon Capital Advisors also made a $7.6 million investment in the stock during the quarter. The following funds were also among the new AMKR investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Brian Kelly’s Asian Century Quest, and D. E. Shaw’s D E Shaw.

What have insiders been doing with Amkor Technology, Inc. (NASDAQ:AMKR)?

Bullish insider trading is most useful when the primary stock in question has experienced transactions within the past half-year. Over the last six-month time period, Amkor Technology, Inc. (NASDAQ:AMKR) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also examine the relationship between both of these indicators in other stocks similar to Amkor Technology, Inc. (NASDAQ:AMKR). These stocks are Applied Micro Circuits Corporation (NASDAQ:AMCC), OmniVision Technologies, Inc. (NASDAQ:OVTI), EZchip Semiconductor Ltd. (NASDAQ:EZCH), Aeroflex Holding Corp. (NYSE:ARX), and Micrel, Incorporated (NASDAQ:MCRL). This group of stocks belong to the semiconductor – integrated circuits industry and their market caps are similar to AMKR’s market cap.

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