Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Tidal Investments LLC

Tidal Investments LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 257.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,560 shares of the manufacturing equipment provider's stock after acquiring an additional 191,286 shares during the quarter. Applied Materials accounts for about 0.6% of Tidal Investments LLC's portfolio, making the stock its 22nd largest position. Tidal Investments LLC's holdings in Applied Materials were worth $53,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. EdgePoint Investment Group Inc. raised its stake in Applied Materials by 341.0% in the third quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider's stock valued at $577,288,000 after buying an additional 2,209,218 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Applied Materials by 67.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider's stock worth $942,187,000 after acquiring an additional 1,884,153 shares in the last quarter. Van ECK Associates Corp lifted its stake in Applied Materials by 29.8% during the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider's stock worth $1,327,707,000 after purchasing an additional 1,509,439 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Applied Materials by 262.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider's stock worth $280,951,000 after acquiring an additional 1,006,937 shares during the last quarter. Finally, Alkeon Capital Management LLC raised its position in Applied Materials by 87.7% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,877,133 shares of the manufacturing equipment provider's stock valued at $379,275,000 after purchasing an additional 877,133 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup dropped their price objective on shares of Applied Materials from $240.00 to $217.00 and set a "buy" rating on the stock in a research note on Monday, September 16th. StockNews.com downgraded Applied Materials from a "buy" rating to a "hold" rating in a research note on Saturday, September 14th. Wells Fargo & Company cut their price target on Applied Materials from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, December 6th. B. Riley cut their price target on shares of Applied Materials from $300.00 to $280.00 and set a "buy" rating for the company in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Applied Materials from $220.00 to $200.00 and set a "hold" rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $220.29.

Applied Materials Trading Down 1.2 %

Shares of AMAT stock traded down $2.05 during mid-day trading on Thursday, hitting $169.08. 6,093,654 shares of the company's stock were exchanged, compared to its average volume of 6,203,439. The stock has a market cap of $139.39 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.63 and a beta of 1.52. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $255.89. The stock has a 50-day simple moving average of $184.13 and a two-hundred day simple moving average of $202.15.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials's revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 earnings per share. Equities analysts expect that Applied Materials, Inc. will post 9.45 EPS for the current fiscal year.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.