Sensata Technologies Holding plc (ST) Declined on Recent Acquisition
The London Company, an investment management company, released “The London Company SMID Cap Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned 8.5% gross (8.3% net) compared to a 5.2% return for the Russell 2500 Index. Stock selection was positive for the fund’s performance which was offset by headwinds from sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company SMID Cap Strategy highlighted stocks like Sensata Technologies Holding plc (NYSE:ST) in the second quarter 2023 investor letter. Headquartered in Attleboro, Massachusetts, Sensata Technologies Holding plc (NYSE:ST) is an industrial technology company that manufactures and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products. On August 3, 2023, Sensata Technologies Holding plc (NYSE:ST) stock closed at $41.49 per share. One-month return of Sensata Technologies Holding plc (NYSE:ST) was -4.44%, and its shares lost 9.45% of their value over the last 52 weeks. Sensata Technologies Holding plc (NYSE:ST) has a market capitalization of $6.344 billion.
The London Company SMID Cap Strategy made the following comment about Sensata Technologies Holding plc (NYSE:ST) in its second quarter 2023 investor letter:
"Sensata Technologies Holding plc (NYSE:ST) – ST underperformed the broader market in Q2 as margins declined reflecting the impact of recent acquisitions, as well as softer demand in its end markets. ST has repositioned its portfolio with a focus on electrification for the auto and industrial industries. ST should benefit from tailwinds including higher content per vehicle and sticky client contracts. Management recently increased the dividend, and plans to continue to reduce company debt."
Sensata Technologies Holding plc (NYSE:ST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Sensata Technologies Holding plc (NYSE:ST) at the end of first quarter which was 35 in the previous quarter.
We discussed Sensata Technologies Holding plc (NYSE:ST) in another article and shared the list of tech stocks recently upgraded by analysts. 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.
