In this article, we look at the 11 best nanotechnology stocks to invest in. If you would like to skip an introduction to the nanotechnology sector and how it covers a variety of applications ranging from healthcare to consumer technology, please read on.read The 5 best nanotechnology stocks to invest in.
Like artificial intelligence, nanotechnology is a set of technologies that once belonged to the realm of science fiction. Nanotechnology refers to items smaller than 100 nanometers. They are used in a wide range of applications, such as sunscreens and pharmaceuticals, because the small size of the particles allows them to do things that normally sized items cannot.
One of the most lucrative applications of nanotechnology is in the semiconductor industry. Modern chips, such as those powering Apple Inc.'s (NASDAQ:AAPL) iPhone and NVIDIA Corporation's (NASDAQ:NVDA) latest artificial intelligence graphics processing units, are often made with just a few transistors. It is being of nanometers. In fact, Taiwan Semiconductor Manufacturing Company (NYSE:TSM), one of the world's leading contract semiconductor manufacturing companies, is currently mass producing semiconductors with features as small as 3 nanometers. It's nothing short of magical. Making transistors just nanometers wide or long gives the chip a number of advantages over previous chips. The most obvious of these are improved conductivity, increased power efficiency, and of course increased computing power.
Another well-known user of nanotechnology is the medical industry. It is used for a variety of direct and indirect medical purposes, including cancer treatment, disease imaging, and even the creation of new tissue. One such company is Nanobiotix SA (NASDAQ:NBTX), a biotechnology company based in Paris, France. Nanobiotix, a specialist biotechnology company, uses nanoparticles to fight cancer in the head, pancreas, and other areas and organs of the human body. On average, the three analysts covering the stock rate it a “strong buy,” with an average price target of $11.98, which suggests significant upside potential. In fact, April 2024 is shaping up to be a big month for his Nanobiotix SA (NASDAQ: NBTX). The company has completed the dose-escalation portion of its Phase 1 trial for a lung cancer treatment called NBTXR3.
The treatment targets small cell lung cancer and is specifically aimed at helping patients who cannot be treated with surgery or whose cancer has returned after early radiation therapy. It uses nanoparticles of hafnium oxide, and Nanobiotix SA (NASDAQ:NBTX) believes that while current trials are only targeting lung cancer patients, future use of NBTXR3 is likely given hafnium oxide's mechanism of action. We are optimistic that this may be applicable to other cancers as well. Wall Street seems to have a hard time believing in the company, as the stock is down 15% since the beginning of the year.
But despite Nanobiotix's poor performance this year, what about the broader nanotechnology space? Nanotechnology covers a wide range of use cases, some of which we have highlighted above, but it is difficult to attribute sector-defined determinants of stock price performance. In other words, for example, when interest rates are high, the broader biotech sector tends to underperform, although the same cannot be said with certainty. all Nanotechnology company.
Still, we can see trends in stock indexes that allow investors to track this sector. One such stock index is the S&P Kensho Nanotechnology Index.it tracks 'c'This includes not only companies that produce materials at the nanoscale, but also companies that use nanotechnology in their production lines and build machines that can measure information at the nanoscale. ” This gives you exposure to the broader field of nanotechnology, rather than customized use cases such as chips or pharmaceuticals. So how are these nanotechnology stocks performing? Well, the index is up 9.48% year-to-date, but the past 12 months and three-year performance are no less encouraging. Not. Over these two periods, the S&P Kensho Nanotechnology Index was -7.5% and -25.10%. These periods were marked by turmoil in the global economy, including soaring inflation, rising interest rates, and wars, which likely affected nanotechnology stocks as well.
So, if you are wondering which nanotechnology stocks to buy, today we have created such a list. Top stocks include Taiwan Semiconductor Manufacturing Company (NYSE:TSM), Thermo Fisher Scientific (NYSE:TMO), and General Electric Company (NYSE:GE).
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our methodology
To create our list of the best nanotechnology stocks, we looked at previous coverage and several other nanomedicine companies and ranked companies by the number of hedge funds that bought shares in Q4 2023. I attached it. Of these nanotechnology stocks, they were chosen by the most hedge fund shareholders.
For these best nanotechnology stocks, we used hedge fund sentiment. The top 10 consensus stocks selected by hedge funds have outperformed the S&P 500 index by more than 140 percentage points over the past 10 years (Please see here for the detail). That's why we pay close attention to this often ignored metric.
11 best nanotechnology stocks to invest in
11. PPG Industries, Inc. (NYSE:PPG)
Number of hedge fund shareholders in Q4 2023: 39
PPG Industries, Inc. (NYSE:PPG) is a leading American chemical company headquartered in Pittsburgh, Pennsylvania. The company is one of the most advanced nanotechnology companies in the world, with advanced nanopaint products used in aerospace applications. The stock has an average rating of “buy” and an average analyst price target of $159.
As of the end of Q4 2023, 39 out of 933 hedge funds surveyed by Insider Monkey had purchased PPG Industries, Inc. (NYSE:PPG) stock. Israel Englanders Millennium Management was the largest investor with a $293 million stake.
joins Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE:TSM), Thermo Fisher Scientific Co., Ltd. (NYSE:TMO), and General Electric Company (NYSE:GE) on the list of best nanotechnology stocks to invest in. I did.
10. International Business Machines Corporation (NYSE:IBM)
Number of hedge fund shareholders in Q4 2023: 50
International Business Machines Corporation (NYSE:IBM) is an American technology company involved in the field of nanotechnology through its semiconductor design division. The company has been performing well financially recently, beating analyst EPS estimates in each of the last four quarters.
In the fourth quarter of last year, 50 of the 933 hedge funds profiled by Insider Monkey held the company's stock. Peter Rajens, Bruce Clark and John Campbell's ArrowStreet Capital is the largest shareholder in International Business Machines Corporation (NYSE:IBM) with a $528 million stake.
9. Analog Devices, Inc. (NASDAQ:ADI)
Number of hedge fund shareholders in Q4 2023: 62
Analog Devices, Inc. (NASDAQ:ADI) is a back-end semiconductor company that enables companies to design and test nanoscale products. He is also one of the founding members of the MIT Nanolab, establishing himself in the nanotechnology industry.
Looking at stock holdings in the fourth quarter of 2023, 62 of the 933 hedge funds surveyed by Insider Monkey were shareholders in Analog Devices (NASDAQ:ADI). David Blood and Al Gore's Generation Investment Management held the largest stake, valued at $864 million.
8. 3M Company (NYSE:MMM)
Number of hedge fund shareholders in Q4 2023: 62
3M Company (NYSE:MMM) is an American conglomerate headquartered in St. Paul, Minnesota. The company's news has been relatively quiet, but in April 2024, 3M Company (NYSE: MMM) announced a new platform that allows customers to check if their personal protective equipment is authentic.
Insider Monkey examined the portfolios of 933 hedge funds to find out their stock holdings for the fiscal year ending December 2023, and found that 62 stocks held shares in the company. The largest hedge fund investor in 3M Company (NYSE: MMM) is Dmitry Baryasny's Baryasny His Asset Management, which owns $289 million worth of stock.
7. Synopsys, Inc. (NASDAQ:SNPS)
Number of hedge fund shareholders in Q4 2023: 66
Synopsys, Inc. (NASDAQ:SNPS) is also a back-end semiconductor company that provides chip design and test products. Synopsys, Inc. (NASDAQ:SNPS) has seen its stock rise 18% since the beginning of the year, benefiting from the broader artificial intelligence tailwind that has propelled semiconductor stocks to all-time highs. April 2024 is off to a strong start for the company as Piper Sandler rates the stock as “overweight” and sets a price target of $665.
As of the end of December 2023, 66 of the 933 hedge funds covered by Insider Monkey are shareholders of Synopsys, Inc. (NASDAQ:SNPS). Rajiv Jain's GQG Partners held the largest stake, valued at his $563 million.
6. Applied Materials, Inc. (NASDAQ:AMAT)
Number of hedge fund shareholders in Q4 2023: 70
Applied Materials, Inc. (NASDAQ:AMAT) manufactures and sells semiconductor manufacturing equipment. The company has exceeded analyst EPS estimates in each of the last four quarters, earning Intel Corporation (NASDAQ:INTC) a win in March 2024 when it was named one of its 27 Best Suppliers. The Applied Materials, Inc. (NASDAQ:AMAT) stock has an average rating of “Buy” and an average analyst price target of $215.44.
70 out of 933 hedge funds profiled by Insider Monkey bought shares of the company in Q4 2023. Among them, the largest hedge fund investor in Applied Materials (NASDAQ:AMAT) is David Blood and Al Gore's Generation Investment Management. The stake will increase to $1.1 billion.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), Applied Materials Corporation (NASDAQ:AMAT), Thermo Fisher Scientific Corporation (NYSE:TMO), and General Electric Company (NYSE: GE) is a top nanotechnology stock used by hedge funds. I'm buying it.
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Disclosure. none. 11 best nanotechnology stocks to invest in Originally published on Insider Monkey.
