Is Semiconductor Manufacturing Int’l (SMI) A Buy After QUALCOMM, Inc. (QCOM) Deal?

How are hedge funds trading Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI)?

By the end of the first quarter of the year, only Jim Simons’ Renaissance Technologies had a long position in Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) among the funds Insider Monkey tracks. Renaissance Technologies held about 2.12 million shares worth about $10.02 million in the chipmaker at the end of said period, a 7% increase quarter-over-quarter. The firm’s stake in SMIC accounts for 0.02% of the quant fund’s entire portfolio.

On the other hand, a non-believer in Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) is Ken Griffin’s Citadel Investment Group, which exited its position in the company by the end of the first quarter of 2015. Citadel had a small stake of just 18,474 shares in SMIC at the end of the fourth quarter of 2014.

Due to the lack of interest in the stock from hedge funds tracked by Insider Monkey and the very long-term forecast of the latest catalyst, which is nonetheless having a significant impact on the stock, we don’t recommend entering a position in the company at this time.

Disclosure: None