Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Small-cap stocks reported positive gains in the first quarter, consolidating the last year-end rally. Among the style indexes, the Russell 2000 Growth Index (up 7.58%) outperformed the Russell 2000 Value Index (up 2.91%) by a significant margin after two consecutive quarters of value outperformance. During the quarter, Information technology led the way by increasing 16.38%, outperforming the returns generated by its value counterparts. Please check the top five holdings of the fund to know more about its best picks in 2024.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Super Micro Computer, Inc. (NASDAQ:SMCI), in the first quarter 2024 investor letter. Super Micro Computer, Inc. (NASDAQ:SMCI) develops and manufactures high-performance server and storage solutions. The one-month return of Super Micro Computer, Inc. (NASDAQ:SMCI) was 8.58%, and its shares gained 258.38% of their value over the last 52 weeks. On May 30, 2024, Super Micro Computer, Inc. (NASDAQ:SMCI) stock closed at $827.94 per share with a market capitalization of $48.481 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Super Micro Computer, Inc. (NASDAQ:SMCI) in its first quarter 2024 investor letter:
“Super Micro Computer, Inc. (NASDAQ:SMCI) provides accelerated computing platforms that are application-optimized, high performance, and high-efficiency server and storage systems for end markets such as cloud computing and artificial intelligence (AI). The company delivered impressive financial results and provided strong guidance that reflected the increasing demand for the infrastructure that supports artificial intelligence. After the report, the stock notably traded higher as investors grew more enthusiastic about the growth prospects aligned with the critical role the company plays in the development of data centers.”
A team of technicians in a server room, testing and managing the newest server solutions.
Super Micro Computer, Inc. (NASDAQ:SMCI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Super Micro Computer, Inc. (NASDAQ:SMCI) at the end of the first quarter which was 40 in the previous quarter.
Super Micro Computer, Inc. (NASDAQ:SMCI) experienced another solid quarter with revenue of $3.85 billion, up 200% from the same quarter the previous year. The robust performance was driven by the ongoing demand for rack-scale plug-and-play total AI solutions.
In another article, we discussed Super Micro Computer, Inc. (NASDAQ:SMCI) and shared the list of unstoppable AI stocks to buy. Artisan Small Cap Fund commented about Super Micro Computer, Inc. (NASDAQ:SMCI) in its first quarter 2024 investor letter. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
