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TheStreet Open House

Semiconductor Stocks Click With Hedge Funds

Stocks in this article: INTCMUAMATNSMBRCMMRVLATML

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

NEW YORK ( Insider Monkey) -- Insider Monkey follows hedge fund managers because they have sought the edge in the market through extensive research on public companies and by seeking experts who can guide them. We believe that by imitating the smartest investors around, rather than trading against them, we are more likely to beat the market. Based on the transactions of nearly 350 hedge funds compiled by Insider Monkey, here are the top 16 semiconductor stocks held by hedge funds.

The top 10 semiconductor chip makers among hedge fund managers:

1. Intel Corp (INTC): Intel Corporation is a semiconductor chip maker, which develops advanced integrated digital technology products for numerous industries such as computing and communications. Intel shed 4.64% in the current year, slightly less than S&P 500 at 4.71%. Last quarter, the company was held by more portfolios -- 40 -- than any other semiconductor chip maker. Paul Ruddock and Steve Heinz of Lansdowne Partners increased their position in the second quarter by 37%, bringing them to approximately 23 million shares.

2. Micron Technology (MU): Micron Technology manufactures and markets semiconductor devices including dynamic random access memory, flash memory, as well as other memory storage technologies. Micron's losses year to date are 29.3%, significantly greater than the S&P 500 index. 30 portfolios held this company in the second quarter. David Tepper's Appaloosa Management increased their position by 19% last quarter, grabbing approximately 14.5 million shares ( see billionaire David Tepper's favorite stocks ).

3. Applied Materials (AMAT): Applied Materials, Inc. supports the global semiconductor, flat panel display, solar photovoltaic, and other industries by providing them with manufacturing equipment, services, and software. Applied Materials lost 22.74% in the current year, greater than the S&P 500 ETF (SPY). The company was held by 28 portfolios in the last quarter. Ken Fisher's Fisher Asset Management increased its position by 1% in the second quarter, which brought them to about 40.3 million shares.

4. National Semiconductor Corporation (NSM): National Semiconductor Corporation is a semiconductor company focused on power management with regard to analog and mixed-signal integrated circuits and sub-systems. National Semiconductor strayed from the pack year to date gaining 82.28% in contrast to S&P 500 index, which lost 4.71%. 28 portfolios held this company in the second quarter. Alpine Associates, which is managed by Robert Emil Zoellner, took a new position last quarter by acquiring $4.7 million shares.

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