Bailard Inc. reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,000 shares of the manufacturing equipment provider’s stock after selling 1,730 shares during the period. Bailard Inc.’s holdings in Applied Materials were worth $3,015,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rational Advisors LLC lifted its holdings in Applied Materials by 5,102.0% during the 2nd quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 2,551 shares during the last quarter. ELM Advisors LLC bought a new position in Applied Materials during the 3rd quarter valued at about $157,000. Amussen Hunsaker Associates LLC bought a new position in Applied Materials during the 2nd quarter valued at about $162,000. LFA Lugano Financial Advisors SA bought a new position in Applied Materials during the 2nd quarter valued at about $177,000. Finally, Freestone Capital Holdings LLC bought a new position in Applied Materials during the 3rd quarter valued at about $200,000. 76.29% of the stock is owned by hedge funds and other institutional investors.

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. The stock has a market capitalization of $36.65 billion, a price-to-earnings ratio of 7.96, a P/E/G ratio of 1.26 and a beta of 1.66. Applied Materials, Inc. has a 1-year low of $30.53 and a 1-year high of $62.40.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4 billion. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. As a group, equities research analysts forecast that Applied Materials, Inc. will post 3.54 EPS for the current year.

Several equities analysts recently issued reports on AMAT shares. BidaskClub downgraded shares of Applied Materials from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 11th. Deutsche Bank cut their price target on shares of Applied Materials from $60.00 to $58.00 and set a “buy” rating for the company in a report on Friday, August 17th. ValuEngine downgraded shares of Applied Materials from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. KeyCorp reissued an “overweight” rating and set a $56.00 price target (down from $71.00) on shares of Applied Materials in a report on Friday, November 16th. Finally, Zacks Investment Research downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Applied Materials presently has a consensus rating of “Buy” and an average price target 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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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