What Do Hedge Funds Think of Sunedison Semiconductor Ltd (SEMI)?

Because Sunedison Semiconductor Ltd (NASDAQ:SEMI) has experienced bearish sentiment from the aggregate hedge fund industry, logic holds that there is a sect of funds that slashed their full holdings in the third quarter. Intriguingly, Dan Sobol and Lisa Hess’s SkyTop Capital Management cut the largest stake of the 700 funds watched by Insider Monkey, worth an estimated $4.8 million in stock. Paul Marshall and Ian Wace’s fund, Marshall Wace LLP, also dumped its stock, about $4.3 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 3 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Sunedison Semiconductor Ltd (NASDAQ:SEMI). These stocks are Fred’s, Inc. (NASDAQ:FRED), Global Brass and Copper Holdings Inc (NYSE:BRSS), San Juan Basin Royalty Trust (NYSE:SJT), and MainSource Financial Group Inc. (NASDAQ:MSFG). This group of stocks’ market valuations are closest to SEMI’s market valuation.

As you can see these stocks had an average of 9.25 hedge funds with bullish positions and the average amount invested in these stocks was $26 million. That figure was $217 million in SEMI’s case. Global Brass and Copper Holdings Inc (NYSE:BRSS) is the most popular stock in this table. On the other hand MainSource Financial Group Inc. (NASDAQ:MSFG) is the least popular one with only 4 bullish hedge fund positions. Along with BRSS, Sunedison Semiconductor Ltd (NASDAQ:SEMI) is the most popular stock in this group and that makes the stock worth a closer look.