California Public Employees Retirement System lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,737,576 shares of the manufacturing equipment provider’s stock after purchasing an additional 55,586 shares during the period. California Public Employees Retirement System owned about 0.26% of Applied Materials worth $142,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. LeJeune Puetz Investment Counsel LLC acquired a new position in Applied Materials during the third quarter worth about $105,000. MPS Loria Financial Planners LLC acquired a new position in Applied Materials during the second quarter worth about $109,000. Wunderlich Capital Managemnt boosted its position in Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after acquiring an additional 87 shares during the last quarter. Bessemer Group Inc. boosted its position in Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after acquiring an additional 1,817 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Applied Materials during the second quarter worth about $134,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Applied Materials, Inc. (AMAT) opened at $51.43 on Monday. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. The firm has a market cap of $54,850.00, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.98 and a beta of 1.80. Applied Materials, Inc. has a fifty-two week low of $31.66 and a fifty-two week high of $60.89.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the business posted $0.66 EPS. Applied Materials’s revenue was up 20.4% on a year-over-year basis. equities research analysts predict that Applied Materials, Inc. will post 3.96 earnings per share for the current fiscal year.

In other news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

A number of equities analysts recently weighed in on AMAT shares. B. Riley restated a “buy” rating and set a $61.00 price target on shares of Applied Materials in a research report on Saturday, August 19th. Craig Hallum boosted their price target on shares of Applied Materials to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Nomura boosted their price target on shares of Applied Materials from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Deutsche Bank boosted their price target on shares of Applied Materials from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $61.00 price target (up from $55.00) on shares of Applied Materials in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.15.

WARNING: “California Public Employees Retirement System Grows Stake in Applied Materials, Inc. (AMAT)” was originally published by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://www.watchlistnews.com/california-public-employees-retirement-system-grows-stake-in-applied-materials-inc-amat/1756711.html.

About Applied Materials

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.