5 Best Auto Components and Parts Stocks to Buy Now

4. Gentex Corporation (NASDAQ:GNTX)

Number of Hedge Fund Holders: 37

Gentex Corporation (NASDAQ:GNTX) sells automatic-dimming rear-view mirrors, camera-based driver assistance systems, and other auto equipment.

Out of the 910 hedge funds tracked by Insider Monkey 37 funds reported owning stakes in Gentex Corporation (NASDAQ:GNTX).

Here is what Ariel Fund & Ariel Appreciation Fund has to say about Gentex Corporation  in its Q3 2021 investor letter:

“During the quarter, we added leading supplier of automatic-dimming mirrors for the automotive industry, Gentex Corporation (GNTX), to Ariel Fund and Ariel Appreciation Fund. With over 90% market share and a long history of technological innovation and manufacturing capability, the company consistently outgrows the broader industry, produces best-in-class operating margins, and generates attractive free cash flows. Recently, the stock has underperformed due to broad-based supply chain concerns and the disruption of global automotive production. We view these worries as overblown and see this as an opportunity to own a high-quality, niche franchise with excellent and improving growth prospects, well-positioned to benefit from growing market adoption of its essential technologies.”