Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 12.47% compared to an 8.42% return for the Russell 2000 Value Index. The fund delivered a -9.16% return in 2022 compared to a -14.48% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
FPA Queens Road Small Cap Value Fund highlighted stocks like Synaptics Incorporated (NASDAQ:SYNA) in the Q4 2022 investor letter. Headquartered in San Jose, California, Synaptics Incorporated (NASDAQ:SYNA) develops and markets semiconductor product solutions. On February 8, 2023, Synaptics Incorporated (NASDAQ:SYNA) stock closed at $125.14 per share. One-month return of Synaptics Incorporated (NASDAQ:SYNA) was 14.65%, and its shares lost 44.83% of their value over the last 52 weeks. Synaptics Incorporated (NASDAQ:SYNA) has a market capitalization of $4.93 billion.
FPA Queens Road Small Cap Value Fund made the following comment about Synaptics Incorporated (NASDAQ:SYNA) in its Q4 2022 investor letter:
“Synaptics Incorporated (NASDAQ:SYNA) is a developer of human interface (HMI) hardware and software that has diversified into higher margin internet of things (IoT) products. Synaptics was a top five contributor for the Fund in 2021 and we significantly trimmed the position due to valuation. The shares are back down this year with concerns about consumer technology volumes. We have been incrementally buying back shares at lower prices.”
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Synaptics Incorporated (NASDAQ:SYNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Synaptics Incorporated (NASDAQ:SYNA) at the end of the third quarter, which was 23 in the previous quarter.
We discussed Synaptics Incorporated (NASDAQ:SYNA) in another article and shared First Pacific Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.