5 Best Stocks to Buy According to Billionaire Steve Cohen

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

Cohen’s Stake Value: $255,171,000
Percentage of Steve Cohen’s 13F Portfolio: 1.19%
Number of Hedge Fund Holders: 78

Applied Materials, Inc. (NASDAQ: AMAT) provides manufacturing devices, services, and software to semiconductors and related industries. The company was founded in 1967, and it stands third on the list of 10 best stocks to buy according to billionaire Steve Cohen. Applied Materials shares have shown an impressive performance over the last 12 months, gaining 113.67% in value. 

On June 10, Applied Materials, Inc. (NASDAQ: AMAT) announced a dividend of $0.24 per share, in line with the previous. On May 21, AMAT Susquehanna analyst Mehdi Hosseini raised the firm’s price target on Applied Materials, Inc. (NASDAQ: AMAT) to $170 from $155 and kept a “Positive” rating on the shares.

The hedge fund chaired by Steve Cohen holds 1.91 million shares in Applied Materials, Inc. (NASDAQ: AMAT) worth 255.17 million. The company is also getting the attention of the smart money, as 78 hedge funds tracked by Insider Monkey reported owning stakes in the company in the first quarter of 2021, up from 61 funds a quarter earlier.