Jim Cramer’s Latest Predictions and 5 Stock Recommendations

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

Number of Hedge Fund Holders: 74

Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor industry. During the Lightning Round of his show on June 15, Cramer said in response to a question from a viewer that he liked AMAT stock “very, very much” and thought that it was a “great buy”. 

On June 29, Bank of America analyst Vivek Arya maintained a Buy rating on Applied Materials, Inc. (NASDAQ:AMAT) stock and lowered the price target to $118 from $135, noting that chip demand would be pressured in the coming months due to consumer weakness. 

At the end of the first quarter of 2022, 74 hedge funds in the database of Insider Monkey held stakes worth $4.3 billion in Applied Materials, Inc. (NASDAQ:AMAT), compared to 78 the preceding quarter worth $5.4 billion.

In its Q4 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and Applied Materials, Inc. (NASDAQ:AMAT) was one of them. Here is what the fund said:

“Applied Materials, Inc. (NASDAQ:AMAT), another material contributor for the quarter, provides materials engineering solutions for semiconductor fabrication equipment and manufacturing tools for advanced displays. Similar to Lam Research, Applied Materials, Inc. (NASDAQ:AMAT) is executing well and continuing to experience the tailwinds from consolidation and growth within the industry.”