Cadian Capital Betting on Semiconducters: Micron Technology Inc. (MU), Altera Corp. (ALTR), PMC-Sierra Inc. (PMCS)

Cadian increased its overall position in PMC-Sierra Inc. (NASDAQ:PMCS) to 28.62 million shares by purchasing 1.69 million shares during the first quarter. The equity stake owned by Cadian Capital is worth $265.64 million as of March 31. Despite the fact that the stock has decreased by nearly 1% since the beginning of the current year, Sierra’s shares are currently riding a strong upward trend by increasing almost 5% during the previous trading week. Additionally, the company has been delivering strong financial results lately, including adjusted earnings of $0.08 per share for the first quarter that outpaced analysts’ estimates of $0.07. PMC-Sierra also delivered revenue of $133.1 million, which was 5.2% higher year-over-year. Ralph V. Whitworth’s Relational Investors is the second-largest shareholder in PMC-Sierra Inc. (NASDAQ:PMCS) right behind Cadian Capital, holding an equity stake of 22.81 million shares.

Cadian Capital also sold roughly 10% of its stake in Qlik Technologies Inc. (NASDAQ:QLIK) during the first quarter, with the hedge fund’s position amounting to 8.27 million shares valued at $257.52 million. Although investors are prone to put a great deal of emphasis on financial results, there are more factors to consider when analyzing Qlik Technologies. While the company reported better-than-expected financials in the most recent quarter, which of course pleased its shareholders, Qlik Technologies, a leader in visual analytics, has also been judged by Business Application Research Center (BARC) as an innovator in the BARC Business Intelligence Score 2015 report. Subsequently, Qlik is the lone visual analytics provider included in the above-mentioned category, which indicates that the company is perceived as an extremely fast-growing company that might yield attractive gains in the upcoming months and years. Kerr Neilson’s Platinum Asset Management is one of the largest investors in Qlik Technologies Inc. (NASDAQ:QLIK) from the funds in our database, owning nearly 5.22 million shares.

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