Is International Rectifier Corporation (IRF) Going to Burn These Hedge Funds?

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International Rectifier Corporation (NYSE:IRF) was in 6 hedge funds’ portfolio at the end of the fourth quarter of 2012. IRF shareholders have witnessed an increase in support from the world’s most elite money managers recently. There were 3 hedge funds in our database with IRF holdings at the end of the previous quarter.

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Keeping this in mind, it’s important to take a peek at the key action encompassing International Rectifier Corporation (NYSE:IRF).

What have hedge funds been doing with International Rectifier Corporation (NYSE:IRF)?

Heading into 2013, a total of 6 of the hedge funds we track held long positions in this stock, a change of 100% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes considerably.

International Rectifier Corporation (NYSE:IRF)According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the most valuable position in International Rectifier Corporation (NYSE:IRF). Royce & Associates has a $105.7 million position in the stock, comprising 0.3% of its 13F portfolio. On Royce & Associates’s heels is Starboard Value LP, managed by Jeffrey Smith, which held a $8.4 million position; 1% of its 13F portfolio is allocated to the company. Other hedgies that hold long positions include Mike Vranos’s Ellington, John Overdeck and David Siegel’s Two Sigma Advisors and Ken Griffin’s Citadel Investment Group.

As industrywide interest jumped, key money managers have jumped into International Rectifier Corporation (NYSE:IRF) headfirst. Starboard Value LP, managed by Jeffrey Smith, initiated the largest position in International Rectifier Corporation (NYSE:IRF). Starboard Value LP had 8.4 million invested in the company at the end of the quarter. Mike Vranos’s Ellington also initiated a $0.9 million position during the quarter. The only other fund with a brand new IRF position is Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

What do corporate executives and insiders think about International Rectifier Corporation (NYSE:IRF)?

Insider trading activity, especially when it’s bullish, is particularly usable when the company we’re looking at has experienced transactions within the past half-year. Over the last 180-day time frame, International Rectifier Corporation (NYSE:IRF) has seen 2 unique insiders purchasing, and 2 insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to International Rectifier Corporation (NYSE:IRF). These stocks are Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI), Fairchild Semiconductor Intl Inc (NYSE:FCS), Power Integrations Inc (NASDAQ:POWI), PMC-Sierra Inc (NASDAQ:PMCS), and RF Micro Devices, Inc. (NASDAQ:RFMD). This group of stocks belong to the semiconductor – integrated circuits industry and their market caps resemble IRF’s market cap.

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