Dimensional Fund Advisors LP grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,327,824 shares of the manufacturing equipment provider’s stock after acquiring an additional 47,521 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Applied Materials were worth $128,613,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Credit Agricole S A raised its stake in shares of Applied Materials by 5,016.8% in the 2nd quarter. Credit Agricole S A now owns 24,100 shares of the manufacturing equipment provider’s stock worth $1,113,000 after buying an additional 23,629 shares in the last quarter. American Money Management LLC raised its stake in shares of Applied Materials by 19.2% in the 2nd quarter. American Money Management LLC now owns 21,660 shares of the manufacturing equipment provider’s stock worth $1,000,000 after buying an additional 3,495 shares in the last quarter. Amussen Hunsaker Associates LLC bought a new stake in shares of Applied Materials in the 2nd quarter worth $162,000. Quattro Financial Advisors LLC bought a new stake in shares of Applied Materials in the 3rd quarter worth $1,088,000. Finally, Schroder Investment Management Group raised its stake in shares of Applied Materials by 7.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,541,480 shares of the manufacturing equipment provider’s stock worth $69,814,000 after buying an additional 102,206 shares in the last quarter. Institutional investors own 76.29% of the company’s stock.
A number of analysts have recently commented on AMAT shares. Morgan Stanley downgraded Applied Materials from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $58.00 to $54.00 in a research note on Thursday, August 9th. Wells Fargo & Co dropped their price objective on Applied Materials from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 17th. Stifel Nicolaus dropped their price objective on Applied Materials from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. KeyCorp cut their target price on Applied Materials from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, August 17th. Finally, Citigroup cut their target price on Applied Materials from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Applied Materials has an average rating of “Buy” and a consensus price target of $52.14.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4 billion. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. On average, equities research analysts forecast that Applied Materials, Inc. will post 3.54 earnings per share for the current year.
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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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