InvenSense Inc (NYSE:INVN)
has seen an increase in hedge fund sentiment lately.
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Now, it's important to take a peek at the key action surrounding InvenSense Inc (NYSE:INVN
What does the smart money think about InvenSense Inc (NYSE:INVN)?
In preparation for this quarter, a total of 18 of the hedge funds we track were long in this stock, a change of 38% from the previous quarter. With hedge funds' positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their holdings substantially.
Of the funds we track, Andor Capital Management
, managed by Daniel Benton, holds the largest position in InvenSense Inc (NYSE:INVN). Andor Capital Management has a $10.7 million position in the stock, comprising 1.4% of its 13F portfolio. On Andor Capital Management's heels is Royce & Associates
, managed by Chuck Royce, which held a $7.2 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedgies that are bullish include SAC Subsidiary's CR Intrinsic Investors
, Jason F. Harris's Kendall Square Capital
and Scott Fine and Peter Richards's Empire Capital Management
As industrywide interest jumped, specific money managers were leading the bulls' herd. Andor Capital Management
, managed by Daniel Benton, assembled the largest position in InvenSense Inc (NYSE:INVN). Andor Capital Management had 10.7 million invested in the company at the end of the quarter. Chuck Royce's Royce & Associates
also made a $7.2 million investment in the stock during the quarter. The following funds were also among the new INVN investors: Scott Fine and Peter Richards's Empire Capital Management
, Mike Vranos's Ellington
, and D. E. Shaw's D E Shaw
How are insiders trading InvenSense Inc (NYSE:INVN)?
Insider buying is best served when the primary stock in question has seen transactions within the past half-year. Over the latest half-year time period, InvenSense Inc (NYSE:INVN) has experienced zero unique insiders buying, and 6 insider sales (see the details of insider trades here
Let's also review hedge fund and insider activity in other stocks similar to InvenSense Inc (NYSE:INVN). These stocks are QLogic Corporation (NASDAQ:QLGC
), MEMC Electronic Materials, Inc. (NYSE:WFR
), Cabot Microelectronics Corporation (NASDAQ:CCMP
), TriQuint Semiconductor (NASDAQ:TQNT
), and Diodes Incorporated (NASDAQ:DIOD
). This group of stocks are the members of the semiconductor - integrated circuits industry and their market caps are closest to INVN's market cap.