5 Stocks Losing Ground on Monday

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

Number of Hedge Fund Holders: 67

Shares of Applied Materials, Inc. (NASDAQ:AMAT) slipped over three percent in mid-day trading Monday after Citi lowered its price target for the materials engineering solutions provider from $160 per share to $150 per share.

The price-target cut came just a few days after Applied Materials, Inc. (NASDAQ:AMAT) announced its fiscal fourth quarter results. While the company surpassed financial expectations for the quarter, senior management cautioned that it would continue to face supply chain disruptions related to certain components.

CEO of Applied Materials, Inc. (NASDAQ:AMAT), Gary Dickerson, stated during the earnings call last week:

“We expect supply shortages of certain silicon components to persist in the near-term, and managing these constraints in partnership with our suppliers and chipmakers is our top priority.”