In the 21st century investor’s toolkit, there are tons of indicators investors can use to track the equity markets. A duo of the best are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can outperform the broader indices by a superb amount (see just how much).
Just as necessary, optimistic insider trading activity is a second way to analyze the investments you’re interested in. Just as you’d expect, there are plenty of incentives for a corporate insider to drop shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Several empirical studies have demonstrated the market-beating potential of this method if you understand what to do (learn more here).
Now that that’s out of the way, it’s important to examine the recent info for OmniVision Technologies, Inc. (NASDAQ:OVTI).
How are hedge funds trading OmniVision Technologies, Inc. (NASDAQ:OVTI)?
At the end of the second quarter, a total of 17 of the hedge funds we track were long in this stock, a change of -6% from one quarter earlier. With hedgies’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings substantially.
Out of the hedge funds we follow, Ken Fisher’s Fisher Asset Management had the biggest position in OmniVision Technologies, Inc. (NASDAQ:OVTI), worth close to $56.5 million, accounting for 0.1% of its total 13F portfolio. Coming in second is Royce & Associates, managed by Chuck Royce, which held a $43.2 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other hedge funds with similar optimism include Daniel Benton’s Andor Capital Management, Joseph A. Jolson’s Harvest Capital Strategies and Panayotis Sparaggis’s Alkeon Capital Management.
Because OmniVision Technologies, Inc. (NASDAQ:OVTI) has witnessed dropping sentiment from upper-tier hedge fund managers, we can see that there were a few hedge funds that slashed their full holdings last quarter. Interestingly, Ken Griffin’s Citadel Investment Group said goodbye to the largest stake of the 450+ funds we key on, totaling about $4 million in stock, and Neil Chriss of Hutchin Hill Capital was right behind this move, as the fund sold off about $3.2 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest was cut by 1 funds last quarter.
Insider trading activity in OmniVision Technologies, Inc. (NASDAQ:OVTI)
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past six months. Over the latest half-year time period, OmniVision Technologies, Inc. (NASDAQ:OVTI) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to OmniVision Technologies, Inc. (NASDAQ:OVTI). These stocks are InvenSense Inc (NYSE:INVN), Aeroflex Holding Corp. (NYSE:ARX), TriQuint Semiconductor (NASDAQ:TQNT), Cabot Microelectronics Corporation (NASDAQ:CCMP), and EZchip Semiconductor Ltd. (NASDAQ:EZCH). This group of stocks are the members of the semiconductor – integrated circuits industry and their market caps are closest to OVTI’s market cap.