Danica Pension Takes $11.64 Million Position in Applied Materials

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Danica Pension Livsforsikringsaktieselskab, a Danish pension fund, acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the third quarter, according to the company's recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,830 shares of the manufacturing equipment provider's stock, valued at approximately $11,635,000.

Why it matters

Applied Materials is a major supplier of equipment and services used in the production of semiconductor chips, flat panel displays, and other advanced materials. The company's performance is closely tied to the health of the global electronics and semiconductor industries. Danica Pension's investment in Applied Materials signals the Danish fund's confidence in the company's long-term prospects.

The details

Danica Pension Livsforsikringsaktieselskab acquired the 56,830 shares of Applied Materials during the third quarter. The shares were valued at approximately $11.64 million, based on the stock's trading price at the time. The investment represents a new position for the Danish pension fund in the semiconductor equipment manufacturer.

• Danica Pension acquired the Applied Materials shares during the third quarter of the year.