Microsemi Corporation (NASDAQ:MSCC) has seen an increase in enthusiasm from smart money lately.
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Just as beneficial, optimistic insider trading activity is another way to break down the world of equities. Obviously, there are a variety of stimuli for an upper level exec to cut shares of his or her company, but just one, very simple reason why they would buy. Many academic studies have demonstrated the market-beating potential of this tactic if shareholders know where to look (learn more here).
Keeping this in mind, let’s take a glance at the key action encompassing Microsemi Corporation (NASDAQ:MSCC).
What does the smart money think about Microsemi Corporation (NASDAQ:MSCC)?
Heading into Q2, a total of 6 of the hedge funds we track were bullish in this stock, a change of 20% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes significantly.
When looking at the hedgies we track, Ken Griffin’s Citadel Investment Group had the biggest position in Microsemi Corporation (NASDAQ:MSCC), worth close to $43.1 million, comprising 0.1% of its total 13F portfolio. Coming in second is David Dreman of Dreman Value Management, with a $40.1 million position; 1.1% of its 13F portfolio is allocated to the company. Other hedgies that are bullish include Mariko Gordon’s Daruma Asset Management, D. E. Shaw’s D E Shaw and John Overdeck and David Siegel’s Two Sigma Advisors.
Now, some big names have jumped into Microsemi Corporation (NASDAQ:MSCC) headfirst. Daruma Asset Management, managed by Mariko Gordon, created the most valuable position in Microsemi Corporation (NASDAQ:MSCC). Daruma Asset Management had 36.9 million invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also initiated a $1.9 million position during the quarter. The only other fund with a brand new MSCC position is John Overdeck and David Siegel’s Two Sigma Advisors.
Insider trading activity in Microsemi Corporation (NASDAQ:MSCC)
Insider purchases made by high-level executives is most useful when the primary stock in question has experienced transactions within the past 180 days. Over the last 180-day time period, Microsemi Corporation (NASDAQ:MSCC) has seen zero unique insiders buying, and 9 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Microsemi Corporation (NASDAQ:MSCC). These stocks are RF Micro Devices, Inc. (NASDAQ:RFMD), Fairchild Semiconductor Intl Inc (NYSE:FCS), Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI), Semtech Corporation (NASDAQ:SMTC), and Hittite Microwave Corp (NASDAQ:HITT). This group of stocks are in the semiconductor – integrated circuits industry and their market caps are closest to MSCC’s market cap.
