Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Having carried over some of the strength from the previous year into the first quarter, mid-cap stocks reversed course and ended the second quarter at a loss. The Russell Midcap Growth Index (down 3.21%) slightly outperformed the Russell Midcap Value Index (down 3.40%) in the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Monolithic Power Systems, Inc. (NASDAQ:MPWR), in the second quarter 2024 investor letter. Monolithic Power Systems, Inc. (NASDAQ:MPWR) is a semiconductor-based power electronics solutions provider. The one-month return of Monolithic Power Systems, Inc. (NASDAQ:MPWR) was 8.36%, and its shares appreciated 83.21% of their value over the last 52 weeks. On August 19, 2024, Monolithic Power Systems, Inc. (NASDAQ:MPWR) stock closed at $917.21 per share with a market capitalization of $44.716 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Monolithic Power Systems, Inc. (NASDAQ:MPWR) in its Q2 2024 investor letter:
“Monolithic Power Systems, Inc. (NASDAQ:MPWR) is a fabless company with a global footprint that provides high-performance, semiconductor-based power electronic solutions. Monolithic’s diversified end markets served the company well this quarter, as strength in the enterprise data segment more than offset weakness in other end markets such as automotive and industrial, allowing the company to deliver revenue and profitability results above expectations. The company’s high-performance power management semiconductor chips are benefitting from use in artificial intelligence applications in the enterprise data center end market, and recent design wins with customers bode well for future orders that incorporate next-generation technologies.”
An engineer examining a DC to DC integrated circuit board, looking for any flaws.
Monolithic Power Systems, Inc. (NASDAQ:MPWR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Monolithic Power Systems, Inc. (NASDAQ:MPWR) at the end of the second quarter which was 41 in the previous quarter. With Q2 2024 revenue of $507.4 million, Monolithic Power Systems, Inc. (NASDAQ:MPWR) posted another record quarter, surpassing expectations. While we acknowledge the potential of Monolithic Power Systems, Inc. (NASDAQ:MPWR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Monolithic Power Systems, Inc. (NASDAQ:MPWR) and shared Polen U.S. SMID Company Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2024 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.
