Fiduciary Trust Co. boosts Applied Materials holdings as both AMAT and AIT exceed earnings estimates.

Investment firm Fiduciary Trust Co. increased its holdings in Applied Materials (AMAT) by 14.6% in Q3. AMAT reported strong Q3 earnings of $2.32 EPS, exceeding estimates by $0.13, with a 4.8% revenue increase. Analysts have mixed views but generally maintain a "Moderate Buy" consensus with a target price of $221.48. Applied Materials provides equipment and services for the semiconductor and display industries. Meanwhile, Fmr LLC reduced its stake in Applied Industrial Technologies (AIT) by 155,499 shares in Q3. AIT also beat earnings estimates, reporting $2.36 EPS, and has seen increased interest from institutional investors. Bank of America upgraded AIT to a "Buy" rating with a price target of $315.

November 29, 2024
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