5 Best Tech Stocks to Buy Now According to Lee Munder’s Hedge Fund

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In this article, we discuss the top 5 stock picks from the technology sector of Lee Munder’s hedge fund Lee Munder Capital Group (LMCG). If you are interested in knowing about the firm’s beginnings, its transformation and details about its current portfolio, please also check out 10 Best Tech Stocks to Buy Now According to Lee Munder’s Hedge Fund.

5. Applied Materials, Inc. (NASDAQ:AMAT)

Lee Munder Capital Group’s Stake Value: $15,415,000

Percentage of Lee Munder Capital Group’s 13F Portfolio: 1.06%

Number of Hedge Fund Holders(Q1): 74

Apart from Micron Technology, Inc. (NASDAQ:MU), Applied Materials, Inc. (NASDAQ:AMAT) was the only other semiconductor stock that made it to Lee Munder Capital Group’s top 10 stock picks at the end of June. Applied Materials, Inc. (NASDAQ:AMAT) popularity among smart money investors grew significantly from 2019 to 2021. At the end of 2021, 79  hedge funds tracked by us disclosed a stake in Applied Materials, Inc. (NASDAQ:AMAT), up 75% from 49 funds that reported a stake in the company at the end of 2018.

After President Biden signed the CHIPS Act into law on August 9, several semiconductor stocks, especially those with manufacturing facilities overseas, took a beating. This group included names like Nvidia (NASDAQ:NVDA), Micron Technology, Inc. (NASDAQ:MU) and Applied Materials, Inc. (NASDAQ:AMAT).

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