5 Best Industrial Stocks To Buy Right Now

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

 Number of Hedge Fund Holders: 73

Applied Materials, Inc. (NASDAQ:AMAT) ranks first on our list of the best industrial stocks to buy right now. Applied Materials, Inc. (NASDAQ:AMAT) is an American corporation providing equipment and software to develop semiconductor chips to be used in electronics, solar products, and hardware for computers, smartphones, and televisions. Applied Materials, Inc. (NASDAQ:AMAT) expanded its operations by a series of strategic mergers and acquisitions within the semiconductor and electronics industry over the years. 

Applied Materials, Inc. (NASDAQ:AMAT) is a popular industrial stock among hedge funds. At the end of Q2, 73 hedge funds were long Applied Materials, Inc. (NASDAQ:AMAT), with a total stake value of approximately $4.59 billion. Cantillon Capital Management is the leading shareholder in Applied Materials, Inc. (NASDAQ:AMAT) as of June this year, with with 3.66 million shares worth $472.3 million.

Piper Sandler analyst Weston Twigg, on October 14, kept a Neutral rating on Applied Materials, Inc. (NASDAQ:AMAT), with a $130 price target. The analyst believes that Applied Materials, Inc. (NASDAQ:AMAT) can achieve the targets it has set for 2024, and with growing demand for semiconductors, the shareholder returns should remain high. 

Here is what Vulcan Value Partners has to say about Applied Materials, Inc. (NASDAQ:AMAT) in its Q2 2021 investor letter:

“We purchased Applied Materials Inc. during the quarter. Applied Materials provides materials engineering solutions for semiconductor fabrication equipment and manufacturing tools for advanced displays. The industry has consolidated, leaving five companies that make up approximately 70% of the market. Applied Materials is the largest of the five. Key shifts in the industry are driving demand for more complex capital equipment. Among these shifts are the acceleration in digital transformation of the global economy, the slowing of Moore’s law, and increased application of artificial intelligence (AI). Growth in the company’s services segment creates a predictable revenue stream, enduring customer relationships, and better visibility into future technologies and client needs.”

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