5 Technology Stocks to Buy According to Kevin Mccarthy’s Breakline Capital

In this article, we discuss 5 technology stocks to buy according to Kevin Mccarthy’s Breakline Capital. If you want to read our detailed analysis of Mccarthy’s history and hedge fund performance, go directly to 10 Technology Stocks to Buy According to Kevin Mccarthy’s Breakline Capital.

5. NXP Semiconductors N.V. (NASDAQ:NXPI)

Breakline Capital’s Stake Value: $5,816,000
Percentage of Breakline Capital’s 13F Portfolio: 7.84%
Number of Hedge Fund Holders: 44

NXP Semiconductors N.V. (NASDAQ:NXPI) is a holding company specializing in semiconductor solutions. By the end of the fourth quarter of 2021, Insider Monkey identified 44 hedge funds that had stakes in NXP Semiconductors N.V. (NASDAQ:NXPI). These holdings were worth a total of $907.09 million. Ken Fisher of Fisher Asset Management is the lead stakeholder in NXP Semiconductors N.V. (NASDAQ:NXPI). The fund owns 897,844 shares worth $204.51 million.

After NXP Semiconductors N.V. (NASDAQ:NXPI)’s Q4 earnings beat, Truist analyst William Stein boosted his price target to $265 from $250 and reiterated a Buy rating on the stock. In a research note to investors, the analyst observed that the business had a near-perfect quarter and its Q1 forecast was even better.

In the fourth quarter, Mccarthy cut his position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 6,586 shares, reducing his total stake by 21%. Mccarthy first invested in NXP Semiconductors N.V. (NASDAQ:NXPI) in the fourth quarter of 2018. Kevin Mccarthy’s Breakline Capital still holds 25,533 shares of NXP Semiconductors N.V. (NASDAQ:NXPI), worth more than $5.82 million.

ClearBridge Investments in its Q3 2021 investor letter, mentioned NXP Semiconductors N.V. (NASDAQ:NXPI). Here is what the fund has to say:

“Over the last year, we have sought to improve the up capture of the portfolio by expanding exposure to the select bucket of companies growing revenues and earnings at meaningfully above-average rates and targeting large total addressable markets. Newer names in the select bucket like NXP Semiconductors N.V. (NASDAQ:NXPI) have been strong contributors to relative performance over this period. We believe that owning a broader group of IT and Internet companies with different drivers to the businesses helps manage some of the risk in this relatively more expensive subsector.”