TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 9.80% (gross) and 9.53% (net) compared to 12.59% for the Russell 2500 Growth Index. The recent market rally can be attributed to central banks pausing their rate hikes, as well as speculation about a possible shift towards monetary easing. Additionally, concerns about limited access to skilled workers and wage inflation reduction also played a role. Also, style factors had only a minimal impact on returns this quarter, except for Beta and U.S. Volatility. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Small/Mid Cap Growth Strategy featured stocks like Synaptics Incorporated (NASDAQ:SYNA) in the fourth quarter 2023 investor letter. Headquartered in San Jose, California, Synaptics Incorporated (NASDAQ:SYNA) develops and markets human interface semiconductor solutions for electronic devices and products. On April 3, 2024, Synaptics Incorporated (NASDAQ:SYNA) stock closed at $94.63 per share. One-month return of Synaptics Incorporated (NASDAQ:SYNA) was -12.37%, and its shares lost 5.54% of their value over the last 52 weeks. Synaptics Incorporated (NASDAQ:SYNA) has a market capitalization of $3.719 billion.
TimesSquare Capital U.S. Small/Mid Cap Growth Strategy stated the following regarding Synaptics Incorporated (NASDAQ:SYNA) in its fourth quarter 2023 investor letter:
“Among the wide variety of Information Technology companies, we prefer critical system providers, specialized component designers, and systems that improve productivity or efficiency for their clients. A rebound in the PC and smartphone markets benefited Synaptics Incorporated (NASDAQ:SYNA), the developer of human interface technologies for a variety of devices. Synaptics’ revenues and earnings surpassed expectations thanks to that stabilization, and its management expects a further recovery in 2024. The company also won several new design mandates. That gave its shares a 28% lift.”
A technician inspecting a newly-manufactured semiconductor product.
Synaptics Incorporated (NASDAQ:SYNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Synaptics Incorporated (NASDAQ:SYNA) was held by 20 hedge fund portfolios, down from 21 in the previous quarter, according to our database.
We discussed Synaptics Incorporated (NASDAQ:SYNA) in another article and shared the list of cheap AI stocks to buy in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
