5 Best EV Materials Stocks to Buy

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In this article, we discuss the 5 best EV materials stocks to buy. If you want to read our detailed analysis of these stocks, go directly to the 10 Best EV Materials Stocks to Buy.

5. TE Connectivity Ltd. (NYSE: TEL)

Number of Hedge Fund Holders: 39    

TE Connectivity Ltd. (NYSE: TEL) is a Swiss company that makes and sells connectivity and sensor solutions. It is ranked fifth on our list of 10 best EV materials stocks to buy. Some of the products that the firm markets to the electrical vehicle industry include terminals, connector systems, antennas, and relays, among others. In earnings results for the second quarter, posted on July 28, the firm reported earnings per share of $1.79, beating market estimates by $0.21. The revenue over the period was $3.8 billion, up 52% year-on-year. 

On July 29, investment advisory Truist kept a Hold rating on TE Connectivity Ltd. (NYSE: TEL) stock but raised the price target to $149 from $139, noting the earnings beat posted by the company in the third fiscal quarter. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in TE Connectivity Ltd. (NYSE: TEL) with 9.7 million shares worth more than $1.2 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and TE Connectivity Ltd. (NYSE: TEL) was one of them. Here is what the fund said:

“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included information technology (IT), where TE Connectivity performed well but trailed the sector in the first quarter after a strong 2020.”

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