Hawkins Capital Selling Off Its Top Tech Stocks

The fund’s holding of Cisco Systems Inc (NASDAQ:CSCO) was affected slightly less than Intel’s, being cut by 28% during the second quarter to 715,720 shares worth $19.65 million. During the year the stock has been mostly trading sideways, and is currently around 3% in the green. The latest earnings call allowed Cisco Systems Inc (NASDAQ:CSCO) to show off strong quarterly results, beating both earnings and revenue estimates for the fourth quarter and full fiscal year 2015, which sent the stock up by 5%. For the fiscal fourth quarter ending July 25, the company reported $12.8 billion in sales versus estimates of $12.65 billion, and $0.59 in EPS compared to estimates of $0.56. Currently, the mean target price of analysts suggests another 8.6% upside potential from the $28.70 at which the stock is trading today. Fisher Asset Management, led by Ken Fisher, finished the first six months of the year with 15.33 million shares of Cisco Systems Inc (NASDAQ:CSCO) valued at $422.02 million, marginally increasing its holding during the second quarter.

Lastly, Russell Hawkins held 542,200 shares of EMC Corporation (NYSE:EMC) worth $14.31 million as of June 30. The company has a market capitalisation of $50.72 billion and provides various IT-supporting services as well as develops the IT infrastructure. During the last week, two respected analyst firms, Credit Suisse and Jefferies Group, boost their price targets for the shares of EMC Corporation (NYSE:EMC), with Credit Suisse raising its target to $34 from $30, while Jefferies Group lifted its own target to $32 from $30. Year-to-date the stock has lost 11.33%, but it seems that the price may have found its bottom in the middle of July, after which it has rebounded by 5.7%. John Levin‘s Levin Capital Strategies holds a large position in EMC Corporation consisting of 9.12 million shares as of June 30. Though the position was cut by 14% during the second quarter, it moved up by one spot to third in terms of the most valuable positions in Levin’s portfolio.

Disclosure: None