RF Micro Devices, Inc. (NASDAQ:RFMD) shareholders have witnessed a decrease in enthusiasm from smart money lately.
In today’s marketplace, there are tons of methods market participants can use to watch their holdings. Two of the most useful are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best money managers can outclass the S&P 500 by a solid amount (see just how much).
Just as important, optimistic insider trading sentiment is a second way to break down the investments you’re interested in. As the old adage goes: there are lots of reasons for a corporate insider to get rid of shares of his or her company, but just one, very simple reason why they would behave bullishly. Plenty of empirical studies have demonstrated the impressive potential of this method if “monkeys” know what to do (learn more here).
Keeping this in mind, it’s important to take a glance at the latest action encompassing RF Micro Devices, Inc. (NASDAQ:RFMD).
What have hedge funds been doing with RF Micro Devices, Inc. (NASDAQ:RFMD)?
Heading into Q2, a total of 16 of the hedge funds we track were long in this stock, a change of -11% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were boosting their holdings considerably.
Of the funds we track, Citadel Investment Group, managed by Ken Griffin, holds the most valuable position in RF Micro Devices, Inc. (NASDAQ:RFMD). Citadel Investment Group has a $22.1 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Daniel Arbess of Xerion, with a $19.8 million position; the fund has 1.2% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Glenn Russell Dubin’s Highbridge Capital Management, Ken Grossman and Glen Schneider’s SG Capital Management and Christopher Zepf and Brian Thonn’s Kingdom Ridge Capital.
Since RF Micro Devices, Inc. (NASDAQ:RFMD) has experienced falling interest from the entirety of the hedge funds we track, logic holds that there were a few money managers that elected to cut their full holdings at the end of the first quarter. At the top of the heap, Israel Englander’s Millennium Management dropped the biggest position of the 450+ funds we monitor, totaling close to $10.1 million in stock.. SAC Subsidiary’s fund, Sigma Capital Management, also sold off its stock, about $4 million worth. These transactions are important to note, as total hedge fund interest dropped by 2 funds at the end of the first quarter.
What have insiders been doing with RF Micro Devices, Inc. (NASDAQ:RFMD)?
Insider buying is at its handiest when the company in question has seen transactions within the past six months. Over the latest 180-day time period, RF Micro Devices, Inc. (NASDAQ:RFMD) has experienced zero unique insiders buying, and 7 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to RF Micro Devices, Inc. (NASDAQ:RFMD). These stocks are Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI), Fairchild Semiconductor Intl Inc (NYSE:FCS), Power Integrations Inc (NASDAQ:POWI), PMC-Sierra Inc (NASDAQ:PMCS), and International Rectifier Corporation (NYSE:IRF). This group of stocks are in the semiconductor – integrated circuits industry and their market caps match RFMD’s market cap.
