TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell Midcap Growth Index and returned -4.11% (net) while the index return was -5.22%. The third quarter saw a decline in global equities markets, although they have held up positive year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted stocks like Keysight Technologies, Inc. (NYSE:KEYS) in the third quarter 2023 investor letter. Headquartered in Santa Rosa, California, Keysight Technologies, Inc. (NYSE:KEYS) is an electronic design and test solutions provider. On December 15, 2023, Keysight Technologies, Inc. (NYSE:KEYS) stock closed at $158.53 per share. One-month return of Keysight Technologies, Inc. (NYSE:KEYS) was 17.50%, and its shares lost 7.50% of their value over the last 52 weeks. Keysight Technologies, Inc. (NYSE:KEYS) has a market capitalization of $27.679 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about Keysight Technologies, Inc. (NYSE:KEYS) in its Q3 2023 investor letter:
“Across the Information Technology universe, we seek companies possessing differentiated capabilities, products, and services. Keysight Technologies, Inc. (NYSE:KEYS) supplies electronic design and test solutions to many industries including commercial communications, networking, aerospace, defense, energy, and semiconductors. They reported a solid fiscal third quarter, with in line revenues and a modest beat to earnings. However, the fourth quarter outlook fell short of sell-side expectations and that resulted in a -21% retreat.”
A technician examining a complex circuit board in a semiconductor development lab.
Keysight Technologies, Inc. (NYSE:KEYS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Keysight Technologies, Inc. (NYSE:KEYS) at the end of third quarter which was 41 in the previous quarter.
We discussed Keysight Technologies, Inc. (NYSE:KEYS) in another article and shared ClearBridge Mid Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.
