In this article, we discuss the 5 semiconductor stocks to buy on the dip. If you want to read about some more semiconductor stocks to buy on the dip, go directly to 10 Semiconductor Stocks to Buy on the Dip.
5. Applied Materials, Inc. (NASDAQ:AMAT)
Number of Hedge Fund Holders: 74
Percentage Decline in Share Price Over Past Six Months: 25.22%
Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor industry. The company is one of the safest bets in the chip space as it has an impressive dividend history that stretches back seven years. For the past four years, the payouts have registered consistent growth in a sector where the median in this regard is just one year. On June 9, the company declared a quarterly dividend of $0.26 per share, in line with previous. The forward yield was 0.97%.
On July 15, Goldman Sachs analyst Toshiya Hari maintained a Buy rating on Applied Materials, Inc. (NASDAQ:AMAT) stock and lowered the price target to $95 from $133, noting that there was continued deterioration in the macro operating environment for the chip industry.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm Generation Investment Management is a leading shareholder in Applied Materials, Inc. (NASDAQ:AMAT), with 4.2 million shares worth more than $560 million.