Sirios Capital Management Boosts Stake in Applied Materials

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Sirios Capital Management L P, a Boston-based investment management firm, has purchased a new position of 83,064 shares in Applied Materials, Inc. (NASDAQ:AMAT), the leading supplier of semiconductor manufacturing equipment. The purchase, valued at approximately $17 million, represents 2.2% of Sirios Capital's total holdings, making AMAT the 14th largest position in the fund's portfolio.

Why it matters

The increased stake in Applied Materials by Sirios Capital Management signals the hedge fund's confidence in the company's long-term growth prospects. As a major player in the semiconductor industry, Applied Materials is poised to benefit from the ongoing demand for advanced chip manufacturing equipment, driven by trends like 5G, artificial intelligence, and the Internet of Things.

The details

According to the SEC filing, Sirios Capital Management purchased the 83,064 shares of Applied Materials during the third quarter. This represents a new position for the hedge fund, which previously did not hold any shares of the semiconductor equipment maker. The purchase was valued at approximately $17 million, based on Applied Materials' stock price at the time.

• Sirios Capital Management purchased the 83,064 shares of Applied Materials during the third quarter of the year.