5. Coupa Software Incorporated (NASDAQ:COUP)

Number of Hedge Fund Holders: 54   

Coupa Software Incorporated (NASDAQ:COUP) is placed fifth on our list of 11 best growth stocks to buy according to Ray Dalio. The firm owns and operates a cloud-based business management platform and is headquartered in California. According to the latest data, Bridgewater Associates owned 3,888 shares in the company at the end of the second quarter of 2021 worth more than $1 million. 

On September 8, investment advisory Needham reiterated a Buy rating on Coupa Software Incorporated (NASDAQ:COUP) stock and raised the price target to $315 from $280, appreciating the “strong” second quarter earnings of the firm. 

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Lone Pine Capital is a leading shareholder in Coupa Software Incorporated (NASDAQ:COUP) with 4.6 million shares worth more than $1.2 billion. 

4. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 58    

Lam Research Corporation (NASDAQ:LRCX) is a California-based firm that makes and sells semiconductor processing equipment. It is ranked fourth on our list of 11 best growth stocks to buy according to Ray Dalio. According to regulatory filings, Bridgewater Associates owned 36,506 shares in the company at the end of June 2021 worth $23.7 million, representing 0.15% of the portfolio.  

On September 21, investment advisory UBS maintained a Buy rating on Lam Research Corporation (NASDAQ:LRCX) stock but lowered the price target to $715 from $780, predicting moderation in spending of semiconductor firms through to 2022. 

At the end of the second quarter of 2021, 58 hedge funds in the database of Insider Monkey held stakes worth $3.7 billion in Lam Research Corporation (NASDAQ:LRCX) , up from 54 the preceding quarter worth $3.1 billion.

3. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 78     

Intel Corporation (NASDAQ:INTC) is a California-based firm that sells essential technologies for smart devices. It is placed third on our list of 11 best growth stocks to buy according to Ray Dalio. According to 13F filings, Bridgewater Associates owned 35,490 shares in the company at the end of the second quarter of 2021 worth $1.9 million, representing 0.01% of the portfolio. 

On July 23, investment advisory BMO Capital maintained an Outperform rating on Intel Corporation (NASDAQ:INTC) stock but lowered the price target to $70 from $75, appreciating the quarterly earnings but predicting compressed margins in the second half of the year. 

At the end of the second quarter of 2021, 78 hedge funds in the database of Insider Monkey held stakes worth $6.7 billion in Intel Corporation (NASDAQ:INTC), down from 83 in the previous quarter worth $7.6 billion.

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 86   

NVIDIA Corporation (NASDAQ:NVDA) is ranked second on our list of 11 best growth stocks to buy according to Ray Dalio. The company operates as a visual computing firm and is headquartered in California. According to securities filings, Bridgewater Associates owned 21,098 shares in the company at the end of June 2021 worth $16.8 million, representing 0.1% of the portfolio. 

On September 17, investment advisory Bank of America reiterated a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) stock and raised the price target to $275 from $260, underlining the critical role of semiconductor firms in the digital economy. 

At the end of the second quarter of 2021, 86 hedge funds in the database of Insider Monkey held stakes worth $9 billion in NVIDIA Corporation (NASDAQ:NVDA), up from 80 the preceding quarter worth $6 billion.

1. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 87

Micron Technology (NASDAQ:MU) is placed first on our list of 11 best growth stocks to buy according to Ray Dalio. The firm makes and sells memory and storage products and is headquartered in Idaho. According to the latest filings, Bridgewater Associates owned 216,148 shares in the company at the end of the second quarter of 2021 worth $18.3 million, representing 0.11% of the portfolio. 

On August 30, investment advisory Deutsche Bank maintained a Buy rating on Micron Technology (NASDAQ:MU) stock and lowered the price target to $95 from $110, noting that memory stocks were under pressure because of pricing concerns. 

At the end of the second quarter of 2021, 87 hedge funds in the database of Insider Monkey held stakes worth $6.3 billion in Micron Technology (NASDAQ:MU), down from 100 in the preceding quarter worth $7.6 billion.

This article originally ran on insidermonkey.com.