5 Tech Stocks Hedge Funds are Buying Despite Rising Interest Rates

3. Leidos Holdings, Inc. (NYSE:LDOS)

Number of Hedge Fund Holders in Q2 2022: 29 

Number of Hedge Fund Holders in Q1 2022: 19   

Leidos Holdings, Inc. (NYSE:LDOS) provides tech-related services and solutions in the defense, intelligence, civil, and health markets. On August 22, the company announced that it had won a contract worth $358 million by the US Naval Sea Systems Command. The contract is for the development and delivery of a medium-size unmanned undersea vehicle. The vehicle will be equipped with state-of-the-art tech that supports intelligence preparation by providing submarine-based autonomous oceanographic sensing and data collection for the US Navy.

On August 29, RBC Capital analyst Ken Herbert initiated coverage of Leidos Holdings, Inc. (NYSE:LDOS) stock with a Sector Perform rating and a price target of $106, noting the firm was well positioned to benefit from expanding opportunities and margin stability. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Junto Capital Management is a leading shareholder in Leidos Holdings, Inc. (NYSE:LDOS), with 858,976 shares worth more than $86 million.