Is InvenSense Inc (NYSE:INVN) ready to raly soon? The smart money is becoming less hopeful. The number of long hedge fund positions fell by 5 lately.
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With all of this in mind, it’s important to take a look at the latest action encompassing InvenSense Inc (NYSE:INVN).
What have hedge funds been doing with InvenSense Inc (NYSE:INVN)?
Heading into 2013, a total of 11 of the hedge funds we track were bullish in this stock, a change of -31% from the third quarter. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were increasing their holdings considerably.
Since InvenSense Inc (NYSE:INVN) has faced bearish sentiment from hedge fund managers, we can see that there is a sect of money managers who were dropping their entire stakes at the end of the year. It’s worth mentioning that Eric Bannasch’s Cadian Capital cut the largest position of all the hedgies we key on, worth about $14.2 million in stock., and Stanley Shopkorn and Douglas Day of Hilltop Park Associates was right behind this move, as the fund said goodbye to about $3.1 million worth. These moves are intriguing to say the least, as total hedge fund interest was cut by 5 funds at the end of the year.
What do corporate executives and insiders think about InvenSense Inc (NYSE:INVN)?
Insider purchases made by high-level executives is particularly usable when the company in focus has seen transactions within the past half-year. Over the latest 180-day time frame, InvenSense Inc (NYSE:INVN) has experienced zero unique insiders buying, and 6 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to InvenSense Inc (NYSE:INVN). These stocks are QLogic Corporation (NASDAQ:QLGC), MEMC Electronic Materials, Inc. (NYSE:WFR), Cabot Microelectronics Corporation (NASDAQ:CCMP), TriQuint Semiconductor (NASDAQ:TQNT), and Diodes Incorporated (NASDAQ:DIOD). This group of stocks belong to the semiconductor – integrated circuits industry and their market caps resemble INVN’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| QLogic Corporation (NASDAQ:QLGC) | 14 | 0 | 1 |
| MEMC Electronic Materials, Inc. (NYSE:WFR) | 16 | 3 | 0 |
| Cabot Microelectronics Corporation (NASDAQ:CCMP) | 5 | 0 | 13 |
| TriQuint Semiconductor (NASDAQ:TQNT) | 12 | 5 | 1 |
| Diodes Incorporated (NASDAQ:DIOD) | 7 | 0 | 0 |
With the returns exhibited by Insider Monkey’s time-tested strategies, retail investors should always keep an eye on hedge fund and insider trading activity, and InvenSense Inc (NYSE:INVN) is no exception.
