Should You Avoid ChipMOS Technologies (Bermuda) Ltd (IMOS)?

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ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS) was in 5 hedge funds’ portfolio at the end of December. IMOS investors should be aware of a decrease in enthusiasm from smart money lately. There were 5 hedge funds in our database with IMOS holdings at the end of the previous quarter.

CHILTON INVESTMENT COMPANY

In the 21st century investor’s toolkit, there are tons of metrics shareholders can use to watch stocks. Two of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best fund managers can outclass the market by a significant amount (see just how much).

Equally as important, optimistic insider trading sentiment is a second way to parse down the world of equities. Just as you’d expect, there are a number of incentives for an executive to sell shares of his or her company, but only one, very simple reason why they would behave bullishly. Various empirical studies have demonstrated the useful potential of this tactic if investors understand where to look (learn more here).

With these “truths” under our belt, we’re going to take a look at the recent action encompassing ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS).

What does the smart money think about ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS)?

At the end of the fourth quarter, a total of 5 of the hedge funds we track held long positions in this stock, a change of 0% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings substantially.

According to our comprehensive database, Chilton Investment Company, managed by Richard Chilton, holds the largest position in ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS). Chilton Investment Company has a $20.7 million position in the stock, comprising 0.6% of its 13F portfolio. The second largest stake is held by Renaissance Technologies, managed by Jim Simons, which held a $2.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include Gregory Fraser, Rudolph Kluiber, and Timothy Kroch’s GRT Capital Partners, Israel Englander’s Millennium Management and Mike Vranos’s Ellington.

Due to the fact that ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS) has witnessed falling interest from the smart money, it’s safe to say that there is a sect of hedge funds that elected to cut their full holdings at the end of the year. It’s worth mentioning that Richard Driehaus’s Driehaus Capital dropped the biggest stake of the 450+ funds we monitor, totaling an estimated $1.3 million in stock.. Paul Tudor Jones’s fund, Tudor Investment Corp, also dropped its stock, about $1.1 million worth. These transactions are interesting, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

What do corporate executives and insiders think about ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS)?

Insider purchases made by high-level executives is most useful when the company in question has seen transactions within the past 180 days. Over the latest six-month time period, ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS). These stocks are Brooks Automation, Inc. (USA) (NASDAQ:BRKS), Nanometrics Incorporated (NASDAQ:NANO), Rda Microelectronics Inc (ADR) (NASDAQ:RDA), Ambarella Inc (NASDAQ:AMBA), and Intermolecular Inc (NASDAQ:IMI). This group of stocks belong to the semiconductor equipment & materials industry and their market caps match IMOS’s market cap.

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