5 Best Automation Stocks For 2021

2. Applied Materials, Inc. (NASDAQ: AMAT)

Number of Hedge Fund Holders: 61
Market Cap: $125.545 billion

Another company with the best automation stock for 2021 is Applied Materials which is a global leader in the manufacturing of tools and services for fabrication of semiconductor chips. The company provides integrated solutions such as factory automation software which optimizes productivity. The Applied SmartFactory is powered by AI based technologies that mature in high volume factories. Applied reported a revenue of $5.16 billion in 2020. On a GAAP basis, a gross margin of 45.5%, operating income of $1.28 billion, and an earnings per share of $1.22 in its latest quarterly report. CEO Gary Dickerson is enthusiastic about the company’s performance and says that their broad portfolio and exposure to technology inflections have put them in a great position to outgrow their markets in 2021.

ZWEIG DIMENNA PARTNERS is one of the 61 hedge funds tracked by Insider Monkey having stakes in AMAT at the end of the fourth quarter. The fund owns over 173,290 shares of the company.