In this article, we discuss the 5 best communication stocks to buy now. If you wish to read our detailed analysis of the communication sector, go directly to 10 Best Communication Stocks To Buy Now.
5. T-Mobile US, Inc. (NYSE:TMUS)
Number of Hedge Fund Holders: 86
T-Mobile US, Inc. (NYSE:TMUS) is one of the largest mobile communication firms in the United States, offering voice and data services to millions of consumers.
On March 11, Tigress Financial analyst Ivan Feinseth initiated coverage of T-Mobile US, Inc. (NYSE:TMUS) with a ‘Buy’ rating and $185 price target. The analyst sees the company’s growth momentum and strong execution continuing to accelerate in 2022. He also sees the firm as well-positioned to benefit from accelerating trends in cloud and edge computing, increasing consumer demand for high-speed connectivity, and ongoing integration of IoT (internet of things) and the metaverse.
In March, T-Mobile US, Inc. (NYSE:TMUS) announced a five-year innovation partnership with Disney Studios StudioLAB, for the exploration of emerging tech such as virtual presence, Mixed Reality and immersive experiences for consumers. Under the partnership, both firms will also use 5G technology to develop new and efficient ways to produce and distribute content, both from inside studios as well as remote locations.
Out of all the hedge funds tracked by Insider Monkey, 86 were long T-Mobile US, Inc. (NYSE:TMUS) in the fourth quarter of 2021, with aggregate positions worth $6.06 billion. The top shareholder in the firm over Q4 2021 was Viking Global, which held 13.14 million shares valued at $1.52 billion.
ClearBridge Investments mentioned T-Mobile US, Inc. (NYSE:TMUS) in its Q4 2021 investor letter. Here’s what the fund said:
“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile. Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”