Louis Navellier’s 5 Stock Picks with Huge Upside Potential

In this article, we will be taking a look at Louis Navellier’s 5 stock picks with huge upside potential. To read our detailed analysis of Navellier’s investing strategy and history, you can go directly to see Louis Navellier’s 10 Stock Picks with Huge Upside Potential.

5. Inter Parfums, Inc. (NASDAQ:IPAR)

Navellier & Associates Q3 Stake Value: $4.03 million

Upside Potential as of December 4: 34.76%

Average Price Target: $172

Number of Hedge Fund Holders: 21

Inter Parfums, Inc. (NASDAQ:IPAR) is a personal care products company. It is based in New York.

An Overweight rating and a $172 price target were maintained on Inter Parfums, Inc. (NASDAQ:IPAR) on November 22 by Korinne Wolfmeyer at Piper Sandler.

Inter Parfums, Inc. (NASDAQ:IPAR) was seen in the portfolios of 21 hedge funds in the third quarter, with a total stake value of $188.5 million.

4. NVIDIA Corporation (NASDAQ:NVDA)

Navellier & Associates Q3 Stake Value: $23.9 million

Upside Potential as of December 4: 41.35%

Average Price Target: $661

Number of Hedge Fund Holders: 180

Rick Schafer at Oppenheimer reiterated an Outperform rating and a $650 price target on NVIDIA Corporation (NASDAQ:NVDA) on November 22.

NVIDIA Corporation (NASDAQ:NVDA) is a top semiconductor company based in Santa Clara, California.

Our hedge fund data for the third quarter shows 180 hedge funds long NVIDIA Corporation (NASDAQ:NVDA), with a total stake value of $29.6 billion.

3. Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Navellier & Associates Q3 Stake Value: $3.7 million

Upside Potential as of December 4: 43.70%

Average Price Target: $39.20

Number of Hedge Fund Holders: 24

Allegro MicroSystems, Inc. (NASDAQ:ALGM) is another semiconductor company on our list. It is based in Manchester, New Hampshire.

At the end of the third quarter, 24 hedge funds were long Allegro MicroSystems, Inc. (NASDAQ:ALGM), with a total stake value of $111.3 million.

A Buy rating and a $44 price target were maintained on Allegro MicroSystems, Inc. (NASDAQ:ALGM) on November 3 by Quinn Bolton at Needham.

Here’s what Artisan Partners said about Allegro MicroSystems, Inc. (NASDAQ:ALGM) in its first-quarter 2023 investor letter:

“Among our top contributors were Lattice Semiconductor, Monolithic Power Systems, Allegro MicroSystems, Inc. (NASDAQ:ALGM), HubSpot and Wingstop. A strong area of the portfolio was our semiconductor holdings as Lattice Semiconductor, Monolithic Power Systems and Allegro Microsystems each outperformed. This is an area of the market where we have historically found many compelling opportunities, and we believe it continues to be an attractive area for long-term capital. Our high-level thesis is that industry consolidation is driving profitability improvements which, combined with top-line demand growth drivers, are breeding many interesting profit cycles. Please read our latest semiconductor industry whitepaper to dive into our thoughts on the industry. After the strong performance in the quarter, we trimmed Lattice Semiconductor in order to manage the position size and also trimmed Monolithic Power Systems due to the company outgrowing our small-cap mandate.”

2. First Solar, Inc. (NASDAQ:FSLR)

Navellier & Associates Q3 Stake Value: $4.2 million

Upside Potential as of December 4: 46.41%

Average Price Target: $234.68

Number of Hedge Fund Holders: 49

In total, 49 hedge funds were long First Solar, Inc. (NASDAQ:FSLR) in the third quarter, with a total stake value of $1.1 billion.

First Solar, Inc. (NASDAQ:FSLR) is a semiconductor company that provides photovoltaic solar energy solutions.

Mizuho’s Maheep Mandloi initiated coverage on First Solar, Inc. (NASDAQ:FSLR) with a Buy rating and a $188 price target on November 21.

1. Super Micro Computer, Inc. (NASDAQ:SMCI)

Navellier & Associates Q3 Stake Value: $9.4 million

Upside Potential as of December 4: 50.43%

Average Price Target: $405.60

Number of Hedge Fund Holders: 41

An Overweight rating and a $335 price target were maintained on Super Micro Computer, Inc. (NASDAQ:SMCI) on November 2 by George Wang at Barclays.

Super Micro Computer, Inc. (NASDAQ:SMCI) is an information technology company based in San Jose, California. It develops server and storage solutions.

Super Micro Computer, Inc. (NASDAQ:SMCI) had 41 hedge funds long its stock in the third quarter, with a total stake value of $756 million.

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