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Hedge Funds Are Dumping Advanced Semiconductor Engineering (ADR) (ASX)

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Advanced Semiconductor Engineering (ADR) (NYSE:ASX) was in 7 hedge funds’ portfolio at the end of March. ASX investors should be aware of a decrease in support from the world’s most elite money managers recently. There were 8 hedge funds in our database with ASX positions at the end of the previous quarter.

Advanced Semiconductor Engineering (ADR) (NYSE:ASX)At the moment, there are many metrics market participants can use to track the equity markets. A duo of the best are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best money managers can outclass the market by a very impressive amount (see just how much).

Equally as key, optimistic insider trading activity is a second way to parse down the world of equities. Obviously, there are plenty of reasons for a bullish insider to downsize shares of his or her company, but only one, very simple reason why they would behave bullishly. Plenty of empirical studies have demonstrated the valuable potential of this tactic if you understand what to do (learn more here).

Consequently, we’re going to take a peek at the latest action encompassing Advanced Semiconductor Engineering (ADR) (NYSE:ASX).

Hedge fund activity in Advanced Semiconductor Engineering (ADR) (NYSE:ASX)

At Q1’s end, a total of 7 of the hedge funds we track were long in this stock, a change of -13% from the previous quarter. With hedgies’ capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes meaningfully.

When looking at the hedgies we track, Fisher Asset Management, managed by Ken Fisher, holds the largest position in Advanced Semiconductor Engineering (ADR) (NYSE:ASX). Fisher Asset Management has a $25.8 million position in the stock, comprising 0.1% of its 13F portfolio. On Fisher Asset Management’s heels is Jim Simons of Renaissance Technologies, with a $2.5 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other peers that are bullish include Israel Englander’s Millennium Management, D. E. Shaw’s D E Shaw and Richard S. Pzena’s Pzena Investment Management.

Judging by the fact that Advanced Semiconductor Engineering (ADR) (NYSE:ASX) has witnessed a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there was a specific group of hedgies that slashed their entire stakes in Q1. At the top of the heap, Bruce Kovner’s Caxton Associates LP cut the largest investment of the 450+ funds we monitor, totaling close to $0.3 million in stock.. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also sold off its stock, about $0.1 million worth. These transactions are interesting, as total hedge fund interest fell by 1 funds in Q1.

What have insiders been doing with Advanced Semiconductor Engineering (ADR) (NYSE:ASX)?

Insider purchases made by high-level executives is particularly usable when the company in focus has seen transactions within the past six months. Over the last half-year time frame, Advanced Semiconductor Engineering (ADR) (NYSE:ASX) has seen zero unique insiders buying, 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 Advanced Semiconductor Engineering (ADR) (NYSE:ASX). These stocks are KLA-Tencor Corporation (NASDAQ:KLAC), United Microelectronics Corp (ADR) (NYSE:UMC), Synopsys, Inc. (NASDAQ:SNPS), Lam Research Corporation (NASDAQ:LRCX), and Cree, Inc. (NASDAQ:CREE). This group of stocks are in the semiconductor equipment & materials industry and their market caps are similar to ASX’s market cap.

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