Advanced Micro Devices, Inc. (NYSE:AMD) was in 17 hedge funds’ portfolio at the end of the fourth quarter of 2012. AMD has seen an increase in support from the world’s most elite money managers in recent months. There were 16 hedge funds in our database with AMD positions at the end of the previous quarter.
To the average investor, there are a multitude of metrics shareholders can use to monitor stocks. Two of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite hedge fund managers can outclass the market by a solid margin (see just how much).
Equally as integral, optimistic insider trading sentiment is a second way to break down the financial markets. Just as you’d expect, there are a number of reasons for an upper level exec to drop shares of his or her company, but only one, very simple reason why they would behave bullishly. Several academic studies have demonstrated the valuable potential of this strategy if you know what to do (learn more here).
Consequently, we’re going to take a peek at the recent action encompassing Advanced Micro Devices, Inc. (NYSE:AMD).
What does the smart money think about Advanced Micro Devices, Inc. (NYSE:AMD)?
Heading into 2013, a total of 17 of the hedge funds we track were bullish in this stock, a change of 6% from the third quarter. With the smart money’s capital changing hands, there exists a few notable hedge fund managers who were increasing their holdings substantially.
According to our comprehensive database, Jean-Marie Eveillard’s First Eagle Investment Management had the most valuable position in Advanced Micro Devices, Inc. (NYSE:AMD), worth close to $44 million, comprising 0.2% of its total 13F portfolio. On First Eagle Investment Management’s heels is Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital, with a $17 million position; 0.2% of its 13F portfolio is allocated to the company. Other hedge funds that hold long positions include David Costen Haley’s HBK Investments, Kerr Neilson’s Platinum Asset Management and Ken Griffin’s Citadel Investment Group.
As industrywide interest jumped, key hedge funds were leading the bulls’ herd. First Eagle Investment Management, managed by Jean-Marie Eveillard, assembled the most valuable position in Advanced Micro Devices, Inc. (NYSE:AMD). First Eagle Investment Management had 44 million invested in the company at the end of the quarter. Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners also made a $2 million investment in the stock during the quarter. The following funds were also among the new AMD investors: Bart Baum’s Ionic Capital Management, and Glenn Russell Dubin’s Highbridge Capital Management.
What have insiders been doing with Advanced Micro Devices, Inc. (NYSE:AMD)?
Insider purchases made by high-level executives is best served when the company in question has experienced transactions within the past half-year. Over the latest half-year time frame, Advanced Micro Devices, Inc. (NYSE:AMD) has experienced 1 unique insiders buying, and 1 insider sales (see the details of insider trades here).
With the results shown by the aforementioned research, retail investors should always monitor hedge fund and insider trading activity, and Advanced Micro Devices, Inc. (NYSE:AMD) applies perfectly to this mantra.
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