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Is Applied Materials (AMAT) A Smart Long-Term Buy?

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  • AMAT

Vulcan Value Partners, an investment management firm, published its “Large Cap, Small Cap, Focus Composite, Focus Plus Composite, and All Cap Composite” third quarter 2021 investor letter – a copy of which can be downloaded here. Vulcan’s Large Cap Composite Fund delivered a 0.1% net return for the third quarter of 2021, 11.8% for the Small Cap, -0.9% for the Focus Composite Fund, -0.9% return was delivered by the Focus Plus Composite Fund, and 3.4% was gained by the All Cap Composite Fund for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Vulcan Value Partners, in its Q3 2021 investor letter, mentioned Applied Materials, Inc. (NASDAQ: AMAT) and discussed its stance on the firm. Applied Materials, Inc. is a Santa Clara, California-based manufacturing company with a $129.3 billion market capitalization. AMAT delivered a 66.04% return since the beginning of the year, while its 12-month returns are up by 76.60%. The stock closed at $143.29 per share on November 26, 2021.

Here is what Vulcan Value Partners has to say about Applied Materials, Inc. in its Q3 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 the 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."

Based on our calculations, Applied Materials, Inc. (NASDAQ: AMAT) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. AMAT was in 68 hedge fund portfolios at the end of the third quarter of 2021, compared to 73 funds in the previous quarter. Applied Materials, Inc. (NASDAQ: AMAT) delivered an 8.15% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.