Do Hedge Funds Love Intersil Corp (ISIL)?

As one would reasonably expect, key hedge funds were breaking ground themselves. Quentec Asset Management, managed by Ken Hahn, created the most valuable position in Intersil Corp (NASDAQ:ISIL). Quentec Asset Management had $3.6 million invested in the company at the end of the quarter. Mark Coe’s Coe Capital Management also made a $3 million investment in the stock during the quarter. The other funds with new positions in the stock are Daniel S. Och’s OZ Management, Jim Simons’s Renaissance Technologies, and Ray Dalio’s Bridgewater Associates.

Let’s check out hedge fund activity in other stocks similar to Intersil Corp (NASDAQ:ISIL). We will take a look at Chesapeake Lodging Trust (NYSE:CHSP), Monogram Residential Trust Inc (NYSE:MORE), CommVault Systems, Inc. (NASDAQ:CVLT), and Chambers Street Properties (NYSE:CSG). This group of stocks’ market values are similar to ISIL’s market value.

As you can see these stocks had an average of 15.25 hedge funds with bullish positions and the average amount invested in these stocks was $129 million. That figure was $42 million in ISIL’s case. CommVault Systems, Inc. (NASDAQ:CVLT) is the most popular stock in this table. On the other hand Monogram Residential Trust Inc (NYSE:MORE) is the least popular one with only 7 bullish hedge fund positions. Intersil Corp (NASDAQ:ISIL) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CVLT might be a better candidate to consider a long position.