Advanced Micro Devices, Inc. (NYSE:AMD) was in 14 hedge funds’ portfolio at the end of March. AMD has seen a decrease in hedge fund sentiment lately. There were 18 hedge funds in our database with AMD positions at the end of the previous quarter.
Equally as beneficial, bullish insider trading activity is a second way to parse down the marketplace. Obviously, there are many reasons for an executive to cut shares of his or her company, but only one, very obvious reason why they would buy. Various empirical studies have demonstrated the impressive potential of this tactic if piggybackers understand where to look (learn more here).
Keeping this in mind, we’re going to take a gander at the key action encompassing Advanced Micro Devices, Inc. (NYSE:AMD).
How have hedgies been trading Advanced Micro Devices, Inc. (NYSE:AMD)?
In preparation for this quarter, a total of 14 of the hedge funds we track were long in this stock, a change of -22% from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were increasing their holdings significantly.
Of the funds we track, Jean-Marie Eveillard’s First Eagle Investment Management had the most valuable position in Advanced Micro Devices, Inc. (NYSE:AMD), worth close to $52.9 million, accounting for 0.2% of its total 13F portfolio. On First Eagle Investment Management’s heels is Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, which held a $17.2 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other hedge funds that are bullish include Ken Griffin’s Citadel Investment Group, Cliff Asness’s AQR Capital Management and Ryan Heslop and Ariel Warszawski’s Firefly Value Partners.
Because Advanced Micro Devices, Inc. (NYSE:AMD) has faced declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there is a sect of fund managers who sold off their entire stakes at the end of the first quarter. Intriguingly, David Costen Haley’s HBK Investments dropped the largest position of all the hedgies we monitor, totaling an estimated $7 million in stock., and Steven Cohen of SAC Capital Advisors was right behind this move, as the fund dropped about $4.8 million worth. These moves are important to note, as aggregate hedge fund interest fell by 4 funds at the end of the first quarter.
How have insiders been trading Advanced Micro Devices, Inc. (NYSE:AMD)?
Insider trading activity, especially when it’s bullish, is particularly usable when the company in question has seen transactions within the past six months. Over the last 180-day time period, Advanced Micro Devices, Inc. (NYSE:AMD) has seen zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Advanced Micro Devices, Inc. (NYSE:AMD). These stocks are Intersil Corp (NASDAQ:ISIL), Mellanox Technologies, Ltd. (NASDAQ:MLNX), Cypress Semiconductor Corporation (NASDAQ:CY), Cavium Inc (NASDAQ:CAVM), and Vishay Intertechnology (NYSE:VSH). All of these stocks are in the semiconductor – broad line industry and their market caps match AMD’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Intersil Corp (NASDAQ:ISIL) | 11 | 0 | 1 |
| Mellanox Technologies, Ltd. (NASDAQ:MLNX) | 17 | 0 | 8 |
| Cypress Semiconductor Corporation (NASDAQ:CY) | 13 | 1 | 2 |
| Cavium Inc (NASDAQ:CAVM) | 15 | 0 | 3 |
| Vishay Intertechnology (NYSE:VSH) | 17 | 0 | 1 |
With the returns exhibited by our time-tested strategies, everyday investors should always watch hedge fund and insider trading sentiment, and Advanced Micro Devices, Inc. (NYSE:AMD) is no exception.
