ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Value Strategy outperformed its Russell 1000 Value Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in 10 of 11 sectors in which it was invested for the quarter. The strongest contributions came from the IT, health care, industrials, and materials sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Large Cap Value Strategy, in its Q4 2021 investor letter, mentioned QUALCOMM Incorporated (NASDAQ:QCOM) and discussed its stance on the firm. Founded in 1985, QUALCOMM Incorporated (NASDAQ:QCOM) is a San Diego, California-based multinational semiconductor and telecommunications equipment company with a $156.9 billion market capitalization, and is currently spearheaded by its CEO, Cristiano Amon. QUALCOMM Incorporated (NASDAQ:QCOM) delivered a -23.84% return since the beginning of the year, while its 12-month returns are down by -0.76%. The stock closed at $139.28 per share on April 06, 2022.
Here is what ClearBridge Investments Large Cap Value Strategy has to say about QUALCOMM Incorporated (NASDAQ:QCOM) in its Q4 2021 investor letter:
“Market strength continued in the fourth quarter, with only the communication services sector down in the Russell 1000 Value Index. Portfolio returns benefited from the strong performance of semiconductor maker Qualcomm, which has executed exceptionally well in pursuing the transition to 5G, growing both content and share due to its leadership position in cellular technology. The chipmaker recently outlined a number of peripheral growth opportunities outside of mobile markets, including automotive (where it hopes to leverage its strong presence in the automotive infotainment space into advanced driver assistance systems), Internet of Things (including opportunities in the PC market, VR/AR market, and factory automation) and radio frequency (where mmWave adoption globally, including China, would drive substantial upside).”
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Our calculations show that QUALCOMM Incorporated (NASDAQ:QCOM) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. QUALCOMM Incorporated (NASDAQ:QCOM) was in 75 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 70 funds in the previous quarter. QUALCOMM Incorporated (NASDAQ:QCOM) delivered a -25.10% return in the past 3 months.
In June 2021, we also shared another hedge fund’s views on QUALCOMM Incorporated (NASDAQ:QCOM) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
