TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy underperformed the Russell 2000 Growth Index and returned 2.50% (net), and the index return was 7.05%. Consumer Staples, Health Care, Industrials, and Information Technology showed relative weakness. However, Communication Services and Materials showed strength, partially offsetting the weakness. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare U.S. Small Cap Growth Strategy highlighted stocks like Synaptics Incorporated (NASDAQ:SYNA) in the second quarter 2023 investor letter. Headquartered in San Jose, California, Synaptics Incorporated (NASDAQ:SYNA) develops and markets human interface semiconductor solutions for electronic devices and products. On September 22, 2023, Synaptics Incorporated (NASDAQ:SYNA) stock closed at $83.16 per share. One-month return of Synaptics Incorporated (NASDAQ:SYNA) was -3.89%, and its shares lost 15.79% of their value over the last 52 weeks. Synaptics Incorporated (NASDAQ:SYNA) has a market capitalization of $3.246 billion.
TimesSquare U.S. Small Cap Growth Strategy made the following comment about Synaptics Incorporated (NASDAQ:SYNA) in its Q2 2023 investor letter:
“In the Information Technology sector, Synaptics Incorporated (NASDAQ:SYNA) develops and markets semiconductor product solutions. Their products enable users to interact more easily with smartphones, notebooks, tablets, and other portable multi-media devices. While the fiscal third quarter results were in line with sell-side projections, forward guidance was worse than expected. Management sees growing macroeconomic headwinds further impacting IT budgets, and the inventory draw-down has been slower than they had anticipated on weaker sell-through trends. Synaptics lost -23% and we added to the position.”
A technician in a clean room working on a semiconductor device, illuminated by the machines. Editorial photo for a financial news article. 8k. –ar 16:9
Synaptics Incorporated (NASDAQ:SYNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Synaptics Incorporated (NASDAQ:SYNA) at the end of second quarter which was 28 in the previous quarter.
We discussed Synaptics Incorporated (NASDAQ:SYNA) in another article and shared FPA Queens Road Small Cap Value Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
