5 Most Important Tech Layoffs to Watch

4. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 96

T-Mobile US, Inc. (NASDAQ:TMUS) is a Washington-based firm that provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. T-Mobile US, Inc. (NASDAQ:TMUS) has recently laid off workers in its network operations and engineering division. The layoffs included managers and executives, and they were part of an organizational shift at T-Mobile US, Inc. (NASDAQ:TMUS). 

On August 30, Morgan Stanley analyst Simon Flannery named T-Mobile US, Inc. (NASDAQ:TMUS) as a “Catalyst Driven Idea”, and he expects the company to declare board approval and commence a share buyback program with its Q3 earnings report in late-October or early-November. The analyst forecasts $12 billion in buybacks in 2023, and reiterated an Overweight rating and a $159 price target on T-Mobile US, Inc. (NASDAQ:TMUS) shares.

According to Insider Monkey’s Q2 data, 96 hedge funds were long T-Mobile US, Inc. (NASDAQ:TMUS), up from 91 funds in the last quarter. Andreas Halvorsen’s Viking Global is the leading position holder in the company, with 9.17 million shares worth $1.2 billion. 

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about T-Mobile US, Inc. (NYSE:TMUS) in its Q4 2021 investor letter:

“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.”