Next up, we have Richardson Electronics, Ltd. (NASDAQ:RELL). On July 30, Director James Benham acquired 5,000 shares at an average price of $6.60. This is the lone purchase of shares by an insider of Richardson Electronics so far this year. However, it’s important to note that the firm has not seen any insider sales this year as well, or for the entirety of 2014 for that matter. Looking at how hedge funds have been treating Richardson Electronics lately, however, we can see that they appear to be bearish on the firm. While the 10.98% quarter-over-quarter decline in the total value of their holdings, to $52.83 million by the end of the first quarter can be explained mostly by the 10.2% decline in the stock’s price in the first three months of the year, the stock saw fewer hedge funds investing in it by the end of said period. Heading into the second quarter, a total of seven hedge funds tracked by Insider Monkey were long in this stock, down from ten entering the preceding quarter. From April 1 to June 30, the stock fell a further 10.02%. Since June 30, the stock has dipped by another 16.6%, most of it after the company reported a net loss of $5.6 million for the 2015 fiscal year ending May 30, larger than the net loss of about half a million for the previous year, on net sales of $137.0 million, down by 0.7%. Gates Capital Management, led by Jeffrey Gates, held the number one position in Richardson Electronics, Ltd. (NASDAQ:RELL) on March 31, owning 2.9 million shares worth about $26 million. Tom Facciola‘s Tigershark Partners cut the biggest investment of the “upper crust” of funds monitored by Insider Monkey in the first quarter, selling 17,563 shares valued at about $176,000.
Lastly, Amkor Technology, Inc. (NASDAQ:AMKR) Director Roger Anthony Carolin bought 12,000 shares of the firm on July 30 at a price of $4.49 each. This has been the only insider purchase of Amkor shares this year. There has also only been one sale of shares by an insider of the firm this year, which was conducted by EVP Marie Jean Rutten Guillaume on March 5, when she sold 15,000 shares. Recently, Amkor Technology shares slid on Tuesday after it reported worse-than-expected results for its second quarter. Shares of the firm plunged by 17% after it reported adjusted EPS of $0.08, down from EPS of $0.21 during the second quarter of 2014, on revenues of $737 million, down by 4% year-over-year. Analysts were expecting EPS of $0.11 and revenues of about $747 million. In the past month, the stock has slumped by 28.2%. Year-to-date, it has declined by 37.68%, while for the past 12 months, the slide is a deeper 49.72%. The smart money appears to be in-line with the negative news about Amkor Technologies because while heading into the second quarter, a total of 23 of the hedge funds tracked by Insider Monkey were long in this stock, up from 20 one quarter earlier, their aggregate holdings increased by only 17.78% quarter-over-quarter to $97.3 million, even though the stock climbed by 24.44% in the first quarter. This means an outflow of money from the firm’s shares in the period. The smart money was right, as the stock plunged by 32.31% from April 1 to June 30. There were certain funds who were still bullish though. Renaissance Technologies, managed by Jim Simons, held the most valuable position in Amkor Technology, Inc. (NASDAQ:AMKR) in our database as of March 31, with a $19.5 million position made up of 2.21 million shares. Among those who were bearish, David Warren‘s DW Partners cut the largest investment of the 700 funds tracked by Insider Monkey, selling 805,000 shares worth an estimated $5.76 million.
Disclosure: None
