5 Technology Stocks to Sell Now According to Cathie Wood

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1. NXP Semiconductors N.V. (NASDAQ:NXPI)

Number of Hedge Fund Holders: 44     

Percentage Decrease in Stake in Q4: 100%  

NXP Semiconductors N.V. (NASDAQ:NXPI) makes and sells semiconductor products. At the end of the fourth quarter of 2021, 44 hedge funds in the database of Insider Monkey held stakes worth $907 million in NXP Semiconductors N.V. (NASDAQ:NXPI), compared to 51 in the preceding quarter worth $1 billion. 

The company had been in the ARK portfolio since the third quarter of 2018. The hedge fund started reducing this holding from the second quarter of 2021, before selling it off completely in the fourth quarter. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and NXP Semiconductors N.V. (NASDAQ:NXPI)  was one of them. Here is what the fund said:

“Within IT, we have also increased exposure to a cyclical semiconductor industry currently working through a severe supply shortage due to several years of capacity reductions, COVID-19 shutdowns and one-off production delays as well as demand resilience in areas like autos and smartphones. Two recent additions, specialty semiconductor maker (including) NXP Semiconductors, was among the portfolio’s leading contributors in the first quarter. NXP rose as auto production ramped up and electric vehicle sales continued to expand.”

You can also take a peek at 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.

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