U S Global Investors Inc acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 9,505 shares of the manufacturing equipment provider’s stock, valued at approximately $367,000.
A number of other institutional investors also recently added to or reduced their stakes in AMAT. FMR LLC raised its stake in Applied Materials by 85.2% during the third quarter. FMR LLC now owns 14,705,625 shares of the manufacturing equipment provider’s stock worth $568,373,000 after acquiring an additional 6,766,709 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Applied Materials by 47.3% during the third quarter. Bank of New York Mellon Corp now owns 20,336,220 shares of the manufacturing equipment provider’s stock worth $785,997,000 after acquiring an additional 6,531,516 shares in the last quarter. American Century Companies Inc. raised its stake in Applied Materials by 25.8% during the second quarter. American Century Companies Inc. now owns 13,874,509 shares of the manufacturing equipment provider’s stock worth $640,864,000 after acquiring an additional 2,844,738 shares in the last quarter. Global Thematic Partners LLC acquired a new position in Applied Materials during the third quarter worth $105,571,000. Finally, Lansdowne Partners UK LLP raised its stake in Applied Materials by 84.5% during the second quarter. Lansdowne Partners UK LLP now owns 5,059,866 shares of the manufacturing equipment provider’s stock worth $233,714,000 after acquiring an additional 2,316,763 shares in the last quarter. Hedge funds and other institutional investors own 76.29% of the company’s stock.
Several research analysts have issued reports on AMAT shares. Citigroup dropped their price objective on Applied Materials from $68.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, September 25th. Zacks Investment Research lowered Applied Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and set a $50.00 price objective on shares of Applied Materials in a research note on Friday, August 17th. BidaskClub upgraded Applied Materials from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Finally, B. Riley decreased their target price on Applied Materials from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $52.14.
Applied Materials stock opened at $34.69 on Thursday. The stock has a market capitalization of $34.83 billion, a P/E ratio of 7.96, a PEG ratio of 1.17 and a beta of 1.66. Applied Materials, Inc. has a 12-month low of $30.53 and a 12-month high of $62.40. The company has a current ratio of 2.64, a quick ratio of 1.73 and a debt-to-equity ratio of 0.78.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4 billion. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. As a group, equities analysts predict that Applied Materials, Inc. will post 3.54 earnings per share for the current fiscal year.
WARNING: This report was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/12/06/u-s-global-investors-inc-acquires-new-position-in-applied-materials-inc-amat.html.
Applied Materials Profile
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.
Read More: Correction
Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.