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.
5. Broadcom Corporation ( BRCM): Broadcom Corporation is a semiconductor company for wired and wireless communications. In the current year, Broadcom has shed 23.37%, more than the SPY. The company was held by 25 portfolios in the last quarter. Bain Capital's Brookside Capital took a new position in the second quarter by purchasing nearly 6.9 million shares. 6. Marvell Technology Group ( MRVL): Marvell Technology Group is a fabless semiconductor provider of application-specific products including complex system-on-a-chip (SoC) devices. Marvell lost 30.84% in the current year, significantly more than SPY. The company was held by 25 portfolios in the second quarter. Artis Capital Management, which is managed by Stuart Peterson, increased their position by 38% last quarter, rising to approximately 32.1 million shares. 7. Atmel Corporation ( ATML): Atmel Corporation designs, develops, and supplies microcontrollers and devices which complement its microcontroller products. Atmel lost 32.71% year to date, more than SPY. 25 portfolios held the company in the last quarter. Richard Chilton's Chilton Investment Company increased their position in the second quarter by 53%, bringing them to about 2.5 million shares (
see Chilton's top stock picks ). 8. NVIDIA Corporation ( NVDA): NVIDIA Corporation is a provider of visual computing technologies on devices such as tablets, smartphones, notebooks, and workstations. NVIDIA lost 14.42% in the current year, greater than SPY's losses. The company was held by 24 portfolios in the second quarter. Peconic Partners LLC, which is managed by William Harnish, reduced their position last quarter by 34%, dropping to approximately 1.4 million shares. 9. Altera Corporation ( ALTR): Altera Corporation is a semiconductor company, which designs, manufactures, and markets logic devices, application-specific integrated circuits, and software. Altera lost 1.55% year to date, less than SPY over the same period. 22 portfolios held this company in the last quarter. Boykin Curry's Eagle Capital Management increased their position in this company in the second quarter by 1%, rising to approximately 7.8 million shares. 10. Advanced Micro Devices ( AMD): Advanced Micro Devices, Inc. is a global semiconductor company, which offers microprocessors as well as graphics, video, and multimedia products for various markets. Over the current year, Advanced Micro Devices lost 23.35%, more than SPY. The company was held by 22 portfolios in the second quarter. Ivory Capital , which is managed by Curtis Macnguyen, reduced their position by 32%, which gave them approximately 17.3 million shares. Semiconductor companies performed worse as a group than the S&P 500 index, losing 9.66% year to date.