Capital Research Global Investors increased its stake in Applied Materials, Inc. by 119.8% per its latest 13F filing.
The institutional investor now owns approximately 4.12% of the company. This holding is valued at over $8.4 billion. Applied Materials currently represents the firm's 13th largest position.
High demand for artificial intelligence and advanced chip packaging drives the increased investment. Other institutional investors, including Havemeyer Place LP, recently acquired new stakes in the semiconductor equipment provider.