Siliconware Precision Industries (ADR) (NASDAQ:SPIL) was in 7 hedge funds' portfolio at the end of the first quarter of 2013. SPIL has seen a decrease in hedge fund sentiment in recent months. There were 8 hedge funds in our database with SPIL holdings at the end of the previous quarter.
In the 21st century investor’s toolkit, there are plenty of metrics investors can use to analyze stocks. A couple of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top investment managers can trounce the market by a very impressive margin (see just how much).
Equally as integral, positive insider trading sentiment is a second way to break down the marketplace. Obviously, there are a number of incentives for a corporate insider to get rid of shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Various empirical studies have demonstrated the valuable potential of this method if piggybackers know what to do (learn more here).
Consequently, we're going to take a look at the key action encompassing Siliconware Precision Industries (ADR) (NASDAQ:SPIL).
Heading into Q2, a total of 7 of the hedge funds we track were long in this stock, a change of -13% from one quarter earlier. With hedge funds' positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were increasing their stakes considerably.
When looking at the hedgies we track, Jim Simons's Renaissance Technologies had the most valuable position in Siliconware Precision Industries (ADR) (NASDAQ:SPIL), worth close to $3.7 million, accounting for less than 0.1%% of its total 13F portfolio. The second largest stake is held by Steven Cohen of SAC Capital Advisors, with a $0.8 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedgies that hold long positions include Ken Griffin's Citadel Investment Group, Bruce Kovner's Caxton Associates LP and Cliff Asness's AQR Capital Management.
Seeing as Siliconware Precision Industries (ADR) (NASDAQ:SPIL) has faced declining sentiment from the aggregate hedge fund industry, we can see that there was a specific group of hedgies that slashed their entire stakes at the end of the first quarter. Intriguingly, Israel Englander's Millennium Management said goodbye to the largest position of all the hedgies we key on, comprising close to $1.6 million in stock., and Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital was right behind this move, as the fund said goodbye to about $0.8 million worth. These transactions are important to note, as total hedge fund interest was cut by 1 funds at the end of the first quarter.
Insider purchases made by high-level executives is particularly usable when the company we're looking at has experienced transactions within the past six months. Over the last half-year time period, Siliconware Precision Industries (ADR) (NASDAQ:SPIL) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the results shown by the aforementioned studies, retail investors must always watch hedge fund and insider trading activity, and Siliconware Precision Industries (ADR) (NASDAQ:SPIL) is no exception.