In this article, we discuss the 5 best tech stocks to buy now according to Orkun Kilic’s Berry Street Capital. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Tech Stocks to Buy Now According to Orkun Kilic’s Berry Street Capital.
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5. Maxim Integrated Products, Inc. (NASDAQ: MXIM)
Berry Street Capital’s Stake Value: $44.801 million
Percentage of Berry Street Capital’s 13F Portfolio: 3.94%
Number of Hedge Fund Holders: 56
Ranking 5th on our list of best tech stocks to buy now according to Orkun Kilic’s Berry Street Capital, Maxim Integrated Products, Inc. (NASDAQ: MXIM) operates in America, Asia, and Europe, providing multiple high-frequency process technologies and capabilities for custom builds. Maxim Integrated Products, Inc. (NASDAQ: MXIM) was launched in 1983 and is situated in San Jose, California. Latest filings by Berry Street Capital reveal that the hedge fund owned 425,216 shares in the firm at the end of June 2021 that are worth $44.801 million, representing 3.94% of the portfolio.
On August 19th, Deutsche Bank escalated Maxim Integrated Products, Inc. (NASDAQ: MXIM)’s price target from $104 to $107, with a Buy rating. On August 30th, Analog Devices’ deal to acquire Maxim Integrated Products, Inc. (NASDAQ: MXIM) was reaching its final stretch. The stock price closed at $104.45 on August 26th. The second quarter revenue of Maxim Integrated Products, Inc. (NASDAQ: MXIM) was $720 million compared to the first quarter’s $665 million.
As of the second quarter, 56 hedge funds out of 873 funds tracked by Insider Monkey held stakes in the company worth $4.21 billion versus the first quarter’s 55 hedge funds with a stake of $3.24 billion. With a stake of $1.1 billion, Matthew Halbower is the company’s biggest stakeholder.
Photo by Tech Daily on Unsplash
4. Slack Technologies, Inc. (WORK) [Owned by Salesforce]
Berry Street Capital’s Stake Value: $55.375 million
Percentage of Berry Street Capital’s 13F Portfolio: 4.87%
Number of Hedge Fund Holders: 61
Launched in 2009 and located in San Francisco, California, Slack Technologies, Inc. ranks 4th on our list of best tech stocks to buy now according to Orkun Kilic’s Berry Street Capital. Slack Technologies, Inc. revolves around bringing people together to its business communication platform. Latest filings by Berry Street Capital reveal that the hedge fund owned 1.25 million shares in the firm at the end of June 2021 that are worth $55.375 million, representing 4.87% of the portfolio.
On July 21st, Salesforce reported it had completely acquired Slack Technologies, Inc.
As of the second quarter, 61 hedge funds out of 873 funds tracked by Insider Monkey held stakes in the company worth $5.328 billion versus the first quarter’s 60 hedge funds with a stake of $4.262 billion.
3. Nuance Communications, Inc. (NASDAQ: NUAN)
Berry Street Capital’s Stake Value: $61.245 million
Percentage of Berry Street Capital’s 13F Portfolio: 5.39%
Number of Hedge Fund Holders: 72
Ranking 3rd on our list of best tech stocks to buy now according to Orkun Kilic’s Berry Street Capital, Nuance Communications, Inc. (NASDAQ: NUAN) specializes in conversational and cognitive artificial intelligence innovations with the aim of making daily life easier. Latest filings by Berry Street Capital reveal that the hedge fund owned 1.125 million shares in the firm at the end of June 2021 that are worth $61.245 million, representing 5.39% of the portfolio.
On May 11th, Morgan Stanley lowered Nuance Communications, Inc. (NASDAQ: NUAN)’s price target from $60 to $56 with a rating of Equal Weight (down from Overweight). With a stock price of $55.21, the price went up by 29.94% in the last 6 months. The second quarter revenue of Nuance Communications, Inc. (NASDAQ: NUAN) was $346.98 million compared to the first quarter’s $345.75 million.
As of the second quarter, 72 hedge funds out of 873 funds tracked by Insider Monkey held stakes in the company worth $5.576 billion versus the first quarter’s 57 hedge funds with a stake of $4.13 billion. With a stake of $732 million, Philippe Laffont is the company’s biggest stakeholder.
2. Xilinx, Inc. (NASDAQ: XLNX)
Berry Street Capital’s Stake Value: $77.744 million
Percentage of Berry Street Capital’s 13F Portfolio: 6.84%
Number of Hedge Fund Holders: 59
Inaugurated in 1984 and rooted in San Jose, California, Xilinx, Inc. (NASDAQ: XLNX) ranks 2nd on our list of best tech stocks to buy now according to Orkun Kilic’s Berry Street Capital. Xilinx, Inc. (NASDAQ: XLNX) specializes in the designing, developing, and marketing of programmable devices and associated technologies internationally. Latest filings by Berry Street Capital reveal that the hedge fund owned 537,500 shares in the firm at the end of June 2021 that are worth $77.744 million, representing 6.84% of the portfolio.
On August 3rd, Barclays raised Xilinx, Inc. (NASDAQ: XLNX)’s price target from $134 to $165 with an Equal Weight rating. With a stock price of $155.06, the price went up by 30.59% in the last 6 months. The second quarter revenue of Xilinx, Inc. (NASDAQ: XLNX) was $766.54 million compared to the first quarter’s $726.67 million.
As of the second quarter, 59 hedge funds out of 873 funds tracked by Insider Monkey held stakes in the company worth $4.16 billion versus the first quarter’s 57 hedge funds with a stake of $3.58 billion. With a stake of $328 million, Israel Englander is the company’s biggest stakeholder.
1. IHS Markit Ltd. (NYSE: INFO)
Berry Street Capital’s Stake Value: $112.66 million
Percentage of Berry Street Capital’s 13F Portfolio: 9.92%
Number of Hedge Fund Holders: 61
Ranking 1st on our list of best tech stocks to buy now according to Orkun Kilic’s Berry Street Capital, IHS Markit Ltd. (NYSE: INFO) offers critical information, analytics, and solutions for various industries and markets internationally. IHS Markit Ltd. (NYSE: INFO) was incorporated in 1959 and is based in London, the United Kingdom. Latest filings by Berry Street Capital reveal that the hedge fund owned 1 million shares in the firm at the end of June 2021 that are worth $112.66 million, representing 9.92% of the portfolio. Kilic has expanded investment in the computing and data authority by 293% compared to the first quarter of 2021.
On July 15th, Deutsche Bank raised IHS Markit Ltd. (NYSE: INFO)’s target price from $123 to $127 with a Buy rating. With a stock price of $120.87, the price went up by 27.81% in the last 6 months. On 2nd August, S&P Global Inc. (NYSE: SPGI) and IHS Markit Ltd. (NYSE: INFO) reported an agreement of selling IHS Markit’s Oil Price Information Services; Coal, Metals and Mining; and PetroChem Wire businesses to News Corp (NWSA) in a cash transaction valued at approximately $1.15B. The second quarter revenue of IHS Markit Ltd. (NYSE: INFO) was $1.18 billion compared to the first quarter’s $1.12 billion.
As of the second quarter, 61 hedge funds out of 873 funds tracked by Insider Monkey held stakes in the company worth $5.9 billion versus the first quarter’s 54 hedge funds with a stake of $4 billion. With a stake of $128 billion, Robert Joseph Caruso is the company’s biggest stakeholder.
Photo by Ant Rozetsky on Unsplash
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