5 Best Consumer Electronics Stocks To Buy

4. Sonos, Inc. (NASDAQ:SONO)

Number of Hedge Fund Holders: 24

Sonos, Inc. (NASDAQ:SONO) designs, develops, manufactures, and sells audio products and services across the Americas, Europe, Africa, the Middle East, and the Asia Pacific. Their product range includes wireless, portable, and home theater speakers, as well as related components and accessories. It is one of the best consumer electronics stocks. On February 6, Sonos, Inc. (NASDAQ:SONO) reported results for the first quarter of fiscal year 2024. The company announced a non-GAAP EPS of $0.84 and a revenue of $612.87 million, outperforming Wall Street estimates by $0.30 and $25.67 million, respectively.

As per Insider Monkey’s fourth quarter database, 24 hedge funds were bullish on Sonos, Inc. (NASDAQ:SONO), up from 17 funds in the previous quarter. Douglas T. Granat’s Trigran Investments is the leading position holder in the company, with 6.67 million shares worth $114.4 million.

Here is what Aristotle Capital Management Small Cap Equity has to say about Sonos, Inc. (NASDAQ:SONO) in its Q1 2022 investor letter:

“Sonos (NASDAQ:SONO), a consumer electronics company with proprietary multi-room smart speaker technology, was added to the portfolio on the belief that strong consumer demand for the company’s differentiated product offering plus a multi-year pipeline of upcoming new product introductions are expected to drive shareholder value for the next several years.”