Mirae Asset Global Investments Co. Ltd. boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 174,020 shares of the manufacturing equipment provider’s stock after acquiring an additional 9,004 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Applied Materials were worth $6,706,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Eaton Vance Management raised its stake in Applied Materials by 0.9% in the 3rd quarter. Eaton Vance Management now owns 217,333 shares of the manufacturing equipment provider’s stock valued at $8,400,000 after acquiring an additional 1,905 shares during the period. Franklin Resources Inc. raised its stake in Applied Materials by 10.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,635,363 shares of the manufacturing equipment provider’s stock valued at $179,151,000 after acquiring an additional 419,528 shares during the period. Blair William & Co. IL raised its stake in Applied Materials by 2.7% in the 3rd quarter. Blair William & Co. IL now owns 61,521 shares of the manufacturing equipment provider’s stock valued at $2,378,000 after acquiring an additional 1,642 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Applied Materials by 17.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,975 shares of the manufacturing equipment provider’s stock valued at $1,816,000 after acquiring an additional 7,025 shares during the period. Finally, Richard Bernstein Advisors LLC raised its stake in Applied Materials by 81.8% in the 3rd quarter. Richard Bernstein Advisors LLC now owns 173,433 shares of the manufacturing equipment provider’s stock valued at $6,703,000 after acquiring an additional 78,048 shares during the period. Institutional investors and hedge funds own 76.29% of the company’s stock.
Shares of AMAT opened at $35.43 on Thursday. The company has a quick ratio of 1.73, a current ratio of 2.64 and a debt-to-equity ratio of 0.78. Applied Materials, Inc. has a 1 year low of $30.53 and a 1 year high of $62.40. The company has a market capitalization of $34.83 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.17 and a beta of 1.66.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.97. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4 billion. Sell-side analysts anticipate that Applied Materials, Inc. will post 3.54 earnings per share for the current fiscal year.
A number of research firms have weighed in on AMAT. Zacks Investment Research reaffirmed a “hold” rating on shares of Applied Materials in a report on Monday, November 12th. KeyCorp reaffirmed an “overweight” rating and set a $56.00 target price (down previously from $71.00) on shares of Applied Materials in a report on Friday, November 16th. BidaskClub raised Applied Materials from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Summit Insights lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Finally, Craig Hallum cut their price objective on Applied Materials from $65.00 to $44.00 and set a “buy” rating for the company in a report on Friday, November 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Applied Materials presently has an average rating of “Buy” and an average target price of $52.14.
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About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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