In the financial world, there are dozens of metrics shareholders can use to watch the equity markets. Some of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite investment managers can outclass their index-focused peers by a very impressive margin (see just how much).
Just as key, bullish insider trading sentiment is another way to break down the financial markets. Just as you’d expect, there are a variety of motivations for a corporate insider to sell shares of his or her company, but just one, very clear reason why they would behave bullishly. Many academic studies have demonstrated the market-beating potential of this tactic if shareholders understand what to do (learn more here).
With these “truths” under our belt, let’s take a peek at the key action encompassing Axcelis Technologies Inc (NASDAQ:ACLS).
What have hedge funds been doing with Axcelis Technologies Inc (NASDAQ:ACLS)?
Heading into 2013, a total of 7 of the hedge funds we track were long in this stock, a change of 40% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes meaningfully.
Now, specific money managers were leading the bulls’ herd. Citadel Investment Group, managed by Ken Griffin, created the most outsized position in Axcelis Technologies Inc (NASDAQ:ACLS). Citadel Investment Group had a small position invested in the company at the end of the quarter. Cliff Asness’s AQR Capital Management also initiated a <$1 million position during the quarter.
What have insiders been doing with Axcelis Technologies Inc (NASDAQ:ACLS)?
Insider trading activity, especially when it’s bullish, is at its handiest when the primary stock in question has experienced transactions within the past six months. Over the latest half-year time frame, Axcelis Technologies Inc (NASDAQ:ACLS) has experienced zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Axcelis Technologies Inc (NASDAQ:ACLS). These stocks are Mattson Technology, Inc. (NASDAQ:MTSN), eMagin Corporation (NYSEAMEX:EMAN), Cascade Microtech, Inc. (NASDAQ:CSCD), Oclaro, Inc. (NASDAQ:OCLR), and Mindspeed Technologies, Inc. (NASDAQ:MSPD). This group of stocks are the members of the semiconductor equipment & materials industry and their market caps are similar to ACLS’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Mattson Technology, Inc. (NASDAQ:MTSN) | 5 | 0 | 0 |
| eMagin Corporation (NYSEAMEX:EMAN) | 3 | 0 | 0 |
| Cascade Microtech, Inc. (NASDAQ:CSCD) | 1 | 1 | 6 |
| Oclaro, Inc. (NASDAQ:OCLR) | 6 | 0 | 2 |
| Mindspeed Technologies, Inc. (NASDAQ:MSPD) | 7 | 0 | 8 |
With the results exhibited by our research, retail investors must always keep an eye on hedge fund and insider trading sentiment, and Axcelis Technologies Inc (NASDAQ:ACLS) applies perfectly to this mantra.
