5 Best Semiconductor Stocks to Buy Now

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

Number of Hedge Fund Holders: 78 

Applied Materials, Inc. (NASDAQ: AMAT) is an American manufacturing company that produces software and equipment mainly used for semiconductor chips. The company has over 24,000 employees in 19 countries and is headquartered in Silicon Valley. 

In Q2 FY21, Applied Materials, Inc. (NASDAQ: AMAT) reported a net income of $1.5 billion, up from $1.2 billion in the previous quarter. The EPS also beat the market estimate of $1.51 and stood at $1.63. The AMAT stock gained 139.5% in the past year and 67.8% in the past six months. The company also declared a quarterly dividend of $0.24 per share. In Q3, Applied Materials, Inc. (NASDAQ: AMAT) expects net sales to reach $5.9 billion, with $1.70-$1.82 EPS. The company attributes the productive quarter to its semiconductor business. In May, JP Morgan raised its price target to $160 and maintains an “Overweight” rating. 

The data from Q1 2021 tells us that hedge funds are turning bullish on Applied Materials, Inc. (NASDAQ: AMAT), as 78 funds have positions in the company, up from 61 in the previous quarter.