Atmel Corporation (NASDAQ:ATML)
– Investors with Long Positions (as of September 30): 35
– Aggregate Value of Investors’ Holdings (as of September 30): $265.93 Million
35 smart money investors from our database had Atmel Corporation (NASDAQ:ATML) in their portfolios at the end of the September quarter, down from 36. These hedge fund firms had accumulated 7.90% of the company’s outstanding common stock on September 30, while the value of their investments in the company declined to $265.93 million from $364.64 million during the latest quarter. In mid-September, the supplier of general purpose microcontrollers sealed a merger agreement with Dialog Semiconductor PLC, under which Dialog is set to acquire Atmel for $4.65 in cash and 0.112 Dialog ADRs for each Atmel share. This merger agreement yields approximately $8.81 per Atmel share. Meanwhile, Atmel announced on Friday that it had received an unsolicited bid of $9.00 per share in cash and that its Board of Directors intends to engage in discussions with the bidder. Nick Niell’s Arrowgrass Capital Partners acquired a new stake of 4.79 million shares in Atmel Corporation (NASDAQ:ATML) during the third quarter.
Cypress Semiconductor Corporation (NASDAQ:CY)
– Investors with Long Positions (as of September 30): 32
– Aggregate Value of Investors’ Holdings (as of September 30): $649.61 Million
The number of hedge funds from our database with long positions in Cypress Semiconductor Corporation (NASDAQ:CY) decreased to 32 from 35 during the July-to-September period, while the total value of these positions shrank to $649.61 million from $1.03 billion. Hedge funds tracked by Insider Monkey owned nearly 23% of the company’s outstanding shares at the end of the latest quarter. In mid-March, Cypress completed its merger with Spansion Inc., a manufacturer and developer of embedded systems semiconductors, which it acquired for roughly $2.8 billion. As a result of this deal, Cypress’ total revenue for the nine-month period that ended September 27 increased to $1.16 billion from $541.40 million reported for the same period of last year. Soros Fund Management, founded by George Soros, upped its position in Cypress Semiconductor Corporation (NASDAQ:CY) by 25% during the third quarter to 19.81 million shares.
Marvell Technology Group Ltd. (NASDAQ:MRVL)
– Investors with Long Positions (as of September 30): 31
– Aggregate Value of Investors’ Holdings (as of September 30): $373.27 Million
Marvell Technology Group Ltd. (NASDAQ:MRVL)’s shares have been sliding throughout 2015, declining by 43% year-to-date. 31 hedge funds observed by our team were invested in the chipmaker at the end of the third quarter, compared with 36 at the end of the second quarter. The overall value of the money invested in the stock decreased to $373.27 million from $694.90 million quarter-over-quarter. The company’s Audit Committee has been conducting an investigation of certain accounting issues, which includes a review of its revenue recognition practices. Marvell reported third-quarter sales of $674 million, which were down by 28% year-over-year and below analyst expectations of $730.2 million. Meanwhile, its adjusted earnings per share decreased by 83% year-over-year to $0.05, missing analyst estimates of $0.13. Meanwhile, it remains to be seen how the accounting probe will be resolved. Cliff Asness’ AQR Capital Management reported owning 12.44 million shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) through the latest round of 13Fs.