MIPS Technologies, Inc. (NASDAQ:MIPS): Are Hedge Funds Right About This Stock?

MIPS Technologies, Inc. (NASDAQ:MIPS) investors should be aware of an increase in hedge fund sentiment lately.

In today’s marketplace, there are a multitude of methods market participants can use to monitor the equity markets. A duo of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top fund managers can outclass the S&P 500 by a healthy amount (see just how much).

AQR CAPITAL MANAGEMENT

Equally as key, bullish insider trading sentiment is a second way to break down the marketplace. There are a variety of reasons for an upper level exec to cut shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the valuable potential of this method if piggybackers understand what to do (learn more here).

Keeping this in mind, we’re going to take a look at the key action surrounding MIPS Technologies, Inc. (NASDAQ:MIPS).

What have hedge funds been doing with MIPS Technologies, Inc. (NASDAQ:MIPS)?

Heading into 2013, a total of 18 of the hedge funds we track held long positions in this stock, a change of 64% from the third quarter. With hedge funds’ capital changing hands, there exists a select group of key hedge fund managers who were boosting their holdings meaningfully.

When looking at the hedgies we track, AQR Capital Management, managed by Cliff Asness, holds the largest position in MIPS Technologies, Inc. (NASDAQ:MIPS). AQR Capital Management has a $20 million position in the stock, comprising 0.1% of its 13F portfolio. On AQR Capital Management’s heels is Brett Hendrickson of Nokomis Capital, with a $15 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining hedge funds that are bullish include Nancy Havens-Hasty’s Havens Advisors, Michael Price’s MFP Investors and Israel Englander’s Millennium Management.

As aggregate interest increased, specific money managers have been driving this bullishness. AQR Capital Management, managed by Cliff Asness, created the most outsized position in MIPS Technologies, Inc. (NASDAQ:MIPS). AQR Capital Management had 20 million invested in the company at the end of the quarter. Nancy Havens-Hasty’s Havens Advisors also initiated a $14 million position during the quarter. The other funds with new positions in the stock are John Bader’s Halcyon Asset Management, John Arnold’s Centaurus Advisors, and Jean-Marie Eveillard’s First Eagle Investment Management.

Insider trading activity in MIPS Technologies, Inc. (NASDAQ:MIPS)

Insider purchases made by high-level executives is particularly usable when the company in question has seen transactions within the past six months. Over the latest six-month time period, MIPS Technologies, Inc. (NASDAQ:MIPS) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

With the results exhibited by Insider Monkey’s studies, retail investors must always monitor hedge fund and insider trading activity, and MIPS Technologies, Inc. (NASDAQ:MIPS) shareholders fit into this picture quite nicely.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

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