A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on ChipMOS TECHNOLOGIES INC. – American Depositary Shares (NASDAQ:IMOS).
Is ChipMOS TECHNOLOGIES INC. – American Depositary Shares (NASDAQ:IMOS) a splendid investment today? It looks like money managers are turning less bullish. The number of long hedge fund positions that are disclosed in regulatory 13F filings inched down by one. At the end of this article we will also compare IMOS to other stocks including Resources Connection, Inc. (NASDAQ:RECN), Hemisphere Media Group Inc (NASDAQ:HMTV), and Bryn Mawr Bank Corp. (NASDAQ:BMTC) to get a better sense of its popularity.
Follow Chipmos Technologies Bermuda Ltd (NASDAQ:IMOS)
Follow Chipmos Technologies Bermuda Ltd (NASDAQ:IMOS)
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
Matej Kastelic/Shutterstock.com
With all of this in mind, we’re going to check out the key action surrounding ChipMOS TECHNOLOGIES INC. – American Depositary Shares (NASDAQ:IMOS).
Hedge fund activity in ChipMOS TECHNOLOGIES INC. – American Depositary Shares (NASDAQ:IMOS)
At the end of the third quarter, 17 funds tracked by Insider Monkey were bullish on this stock, down by 6% over the quarter. On the other hand, there were a total of 18 hedge funds with a bullish position in IMOS at the beginning of this year. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey’s hedge fund database, Seth Klarman’s Baupost Group has the largest position in ChipMOS TECHNOLOGIES INC. – American Depositary Shares (NASDAQ:IMOS), worth close to $74.3 million, accounting for 1.1% of its total 13F portfolio. Coming in second is Renaissance Technologies, one of the largest hedge funds in the world, with a $32.5 million position. Some other peers that hold long positions contain George Soros’ Soros Fund Management, Bernard Lambilliotte’s Ecofin Ltd and Brett Hendrickson’s Nokomis Capital. We should note that Soros Fund Management is among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.
We already know that not all hedge funds are bullish on the stock and some hedge funds actually cashed in their positions entirely. Intriguingly, John Segrich and Michael Molnar’s Lorem Ipsum Management cashed in the largest investment of all the investors watched by Insider Monkey, comprising an estimated $0.9 million in stock. Ken Griffin’s fund, Citadel Investment Group, also dropped its stock, about $0.3 million worth.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as ChipMOS TECHNOLOGIES INC. – American Depositary Shares (NASDAQ:IMOS) but similarly valued. We will take a look at Resources Connection, Inc. (NASDAQ:RECN), Hemisphere Media Group Inc (NASDAQ:HMTV), Bryn Mawr Bank Corp. (NASDAQ:BMTC), and Triple-S Management Corp.(NYSE:GTS). All of these stocks’ market caps are closest to IMOS’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| RECN | 16 | 63307 | 4 |
| HMTV | 9 | 57380 | -1 |
| BMTC | 11 | 43505 | 3 |
| GTS | 10 | 88928 | -3 |
As you can see these stocks had an average of 11 funds with bullish positions and the average amount invested in these stocks was $63 million, compared to $207 million in IMOS’s case. Resources Connection, Inc. (NASDAQ:RECN) is the most popular stock in this table, while Hemisphere Media Group Inc (NASDAQ:HMTV) is the least popular one with only nine funds holding shares. Compared to these stocks ChipMOS TECHNOLOGIES INC. – American Depositary Shares (NASDAQ:IMOS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
Disclosure: None
