Ken Fisher’s Performance in 2021: 5 Best Performing Stocks

2. Synaptics Incorporated (NASDAQ:SYNA)

Number of Hedge Fund Holders: 23 

Gain in Share Price in 2021: 191%       

Synaptics Incorporated (NASDAQ:SYNA) makes and sells semiconductor products. A dramatic increase in the prices of chips due to supply chain pressures and increased demand has led to increased activity around the stock in recent months. At the end of the third quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth $493 million in Synaptics Incorporated (NASDAQ:SYNA). 

Like NVIDIA, the other top chip stock in the Fisher portfolio, Synaptics Incorporated (NASDAQ:SYNA) was a top holding in the Fisher universe during 2010 and 2011 but fell off the radar of the billionaire for the next five or six years. In the second quarter of 2018, the fund opened a new position in Synaptics Incorporated (NASDAQ:SYNA). This stake now consists of over a million shares worth close to $200 million. 

In its Q3 2021 investor letter, FPA Queens Road, an asset management firm, highlighted a few stocks and Synaptics Incorporated (NASDAQ:SYNA) was one of them. Here is what the fund said:

“Synaptics, a developer of human interface (HMI) hardware and software, is experiencing a strategic shift to a higher-margin business, primarily Internet of Things (IoT) products, and continued its recent trend of announcing higher operating margins and providing favorable financial guidance. During the quarter, the company announced it was purchasing former portfolio holding, DSP Group, a communications chip designer.Management is executing well on this strategic shift and delivering impressive financial results.”