Times Square Capital Management, an equity investment management company, has released its fourth quarter investor letter on its “U.S. Small and Mid-Cap Growth Strategy”. You can download a copy of the same here. The strategy returned 9.80% (gross) and 9.53% (net) in the fourth quarter, compared to 12.59% for the Russell 2500 Growth Index. The recent market rally can be attributed to central banks pausing interest rate hikes and speculation about a possible shift to monetary easing. Additionally, concerns about limited access to skilled labor and low wage inflation played a role. Also, with the exception of beta and US volatility, style factors had minimal impact on earnings this quarter. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2023.
Times Square Capital’s U.S. Small and Mid-Cap Growth Strategy featured stocks such as Synaptics Incorporated (NASDAQ:SYNA) in its Q4 2023 investor letter. Synaptics Incorporated (NASDAQ:SYNA), headquartered in San Jose, California, develops and markets human interface semiconductor solutions for electronic devices and products. On April 3, 2024, Synaptics Incorporated (NASDAQ: SYNA) stock closed at $94.63 per share. His 1-month return for Synaptics Incorporated (NASDAQ:SYNA) is -12.37%, and the company’s stock has lost 5.54% of its value over the past 52 weeks. Synaptics Incorporated (NASDAQ:SYNA) has a market capitalization of $3.719 billion.
Times Square Capital’s U.S. Mid-Small Cap Growth Strategy has this to say about Synaptics Incorporated (NASDAQ:SYNA) in its Q4 2023 investor letter:
“Among a wide variety of IT companies, we prefer critical system providers, expert component designers, and systems that improve the productivity and efficiency of our clients. Benefiting from recovery in PC and smartphone markets Synaptics Inc. (NASDAQ:SYNA) develops human interface technology for a variety of devices. Thanks to that stabilization, Synaptics’ revenue and earnings have exceeded expectations, and management expects further recovery in his 2024. The company also acquired some new design requirements. This caused the company’s stock price to rise by 28%. ”
A technician inspects newly manufactured semiconductor products.
Synaptics Incorporated (NASDAQ:SYNA) isn’t on our list of 30 most popular stocks among hedge funds. According to our database, at the end of the fourth quarter, Synaptics Incorporated (NASDAQ: SYNA) was held by 20 hedge fund portfolios, down from 21 stocks at the previous quarter.
We discussed Synaptics Incorporated (NASDAQ:SYNA) in a separate article and shared a list of cheap AI stocks to buy in 2024. Additionally, for more information on investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page. .
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Disclosure: None. This article was originally published on Insider Monkey.
