Hedge Funds Begin to Sour on Kulicke and Soffa Industries Inc. (KLIC)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually said goodbye to their positions entirely. It’s worth mentioning that First Eagle Investment Management said goodbye to the biggest stake of all the hedgies monitored by Insider Monkey, worth close to $4.9 million in stock. John Hurley’s fund, Cavalry Asset Management, also cut its stock, about $3.5 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Kulicke and Soffa Industries Inc. (NASDAQ:KLIC). We will take a look at Genomic Health, Inc. (NASDAQ:GHDX), S & T Bancorp Inc (NASDAQ:STBA), ClubCorp Holdings Inc (NYSE:MYCC), and P.H. Glatfelter Company (NYSE:GLT). All of these stocks’ market caps resemble KLIC’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $163 million. That figure was $94 million in KLIC’s case. Genomic Health, Inc. (NASDAQ:GHDX) is the most popular stock in this table. On the other hand S & T Bancorp Inc (NASDAQ:STBA) is the least popular one with only 5 bullish hedge fund positions. Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GHDX might be a better candidate to consider taking a long position in.

Disclosure: None