Below we presented the list of 5 Best 5G Stocks To Buy Under $10. For our detailed discussion and a more comprehensive list please see 10 Best 5G Stock To Buy Under $10.
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let’s take a look at the best 5G stocks under $10:
5. Neophotonics Corp (NYSE:NPTN)
No of HFs: 17
Total Value of HF Holdings: $52.2 Million
The 5th best 5G stock to buy under $10 is NPTN. NPTN shares currently trade at $11.14. The top hedge fund holder of this stock is Jim Simons’ Renaissance Technologies which had $16 million invested in the stock at the end of September. An insider recently purchased 50,000 shares at around $3 in May 2019. The stock is up 266% since then. Recently the company announced a new Arrayed Waveguide Grating (AWG) multiplexers and de-multiplexer for high capacity of Data Center Interconnect optical fibers. Tim Jenks, Chairman, and CEO of NeoPhotonics commented,
“We are pleased to announce initial shipments of our new line of AWGs designed to support our customers’ high baud rate DCI and Telecom coherent transmission systems. As an industry leading designer and vertically integrated manufacturer we have been able to respond rapidly to different customer needs and to efficiently meet this emerging market demand,”
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4. Infinera Corp (NASDAQ:INFN)
No of HFs: 20
Total Value of HF Holdings: $261 Million
INFN shares currently trade at $9.85. The top hedge fund holder of this stock is Howard Marks’ Oaktree Capital Management which had $155 million invested in the stock at the end of September. An insider recently purchased 15,000 shares at around $4 in May 2020. The stock is up 125% since then. In 2020, INFN announced that it has joined IOWN Global Forum to accelerate innovations in next-generation optical networks. Dave Welch, Founder, and Chief Innovation Officer, at Infinera said,
“Optical technologies are at the heart of cost-effective, low-power, scalable solutions for next-generation communication networks. The ability to help transform optical networks is a tremendous opportunity. We look forward to introducing XR optics and other innovations to the IOWN community and collaborating on how next-generation technologies can pave the way to an advanced optical architecture for the 21st century.”
3. Nokia Corp (NYSE:NOK)
No of HFs: 21
Total Value of HF Holdings: $173 Million
NOK shares currently trade at $4.56. The company was mentioned as one of the 15 Most Powerful Weapons in the World. Recently, the company announced that they will be accelerating Tele2’s existing solutions by deploy new solutions to enhance network reliability and improve infrastructure efficiency and speed. Thomas Helbo, CTO, Tele2, said:
“We looked for a knowledgeable partner to successfully and efficiently handle the rollout of our 5G core in a reliable way, and we found just that in Nokia. With Nokia handling the integration and their ability to leverage years of experience, our team is able to concentrate on enabling new services for our customers, while running a smart and reliable network.”
2. A10 Networks, Inc. (NYSE:ATEN)
No of HFs: 26
Total Value of HF Holdings: $109 Million
ATEN shares currently trade at $9.93. The top hedge fund holder of this stock is Eric Singer’s VIEX Capital Advisors which had $48.9 million invested in the stock at the end of September. ATEN recently won an industry award for multi-cloud security and AI/ML DDoS protection. Paul Nicholson, senior director of product marketing at A10 Networks said,
“It is gratifying to receive these awards by Cyber Defense Magazine and Info Security Products Guide. These awards are a demonstration of our leadership in providing secure application services with connected intelligence. A10 is working hard to deliver innovative technology that addresses the evolving customer needs for multi-cloud, edge-cloud and 5G environments with high performance and scale,”
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1. Hewlett Packard Enterprise Co (NYSE:HPE)
No of HFs: 34
Total Value of HF Holdings: $726 Million
At the end of September, a total of 34 of the hedge funds tracked by Insider Monkey were long for this stock. The company is known for its hardware products. Recently, the company teamed up with EditShare to develop high-quality media management, storage solutions. Sunil Mudholkar, vice president of product, EditShare said,
“EditShare customers can look forward to an increased pace of innovation, while taking advantage of HPE’s forward-looking technology roadmap,”. “HPE has a deserved reputation for building high performing, dependable and cutting-edge servers and storage solutions. Joining forces allows us to focus on our award-winning open software solutions and push the flexibility, scalability, and performance of media-optimized software technology on standard IT hardware.”
Please also see 10 Best Communication Equipment / 5G Stocks to Buy Now and 12 Best Infrastructure Stocks to Buy Now
