3 mid cap ASX stars that I want in my portfolio

I think some of the most investable shares on the Australian share market can be found in the mid cap space.

While there are a great number of quality shares in the space to choose from, three of my favourites in this area are listed below.

Here’s why I like them:

Altium Limited (ASX: ALU)

Due to the growing popularity of its software and the incredible growth of the Internet of Things (IoT) market, I think Altium is a company with enormous growth potential. Altium’s award-winning software allows its users to design printed circuit boards (PCBs). As the majority of IoT/connected devices require a PCB inside them, I expect demand for software licenses will increase significantly in the future and drive strong bottom line growth.

Bellamy’s Australia Ltd (ASX: BAL)

Bellamy’s could be a great buy and hold investment option in my opinion thanks to the insatiable demand for Australian/New Zealand infant formula in the China market. With new regulations making it harder to sell the product in the lucrative market, I believe the lower levels of competition will allow Bellamy’s to win a greater share of the market once its products are approved. The strong sales growth that this would provide, combined with potential price increases, could lead to Bellamy’s achieving above-average earnings growth for many years to come.

Bingo Industries Ltd (ASX: BIN)

I think that this waste management company could also be a great buy and hold option. Although it is not the most exciting industry, waste management is largely recession-proof, has high barriers of entry, and will grow along with the population. In addition to this, I feel Bingo Industries can grow at an even stronger rate thanks to its plans to expand nationwide over the next decade.

Here are three more mid cap shares on the rise. Do you own them?

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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