Robeco Institutional Asset Management B.V. boosted its position in Applied Materials Inc. (NASDAQ:AMAT) by 602.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,389 shares of the manufacturing equipment provider’s stock after buying an additional 361,392 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Applied Materials were worth $10,100,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Applied Materials during the second quarter worth about $74,805,000. UBS Asset Management Americas Inc. raised its stake in shares of Applied Materials by 28.1% in the first quarter. UBS Asset Management Americas Inc. now owns 4,233,589 shares of the manufacturing equipment provider’s stock worth $89,668,000 after buying an additional 929,289 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of Applied Materials during the first quarter worth about $14,292,000. Origin Asset Management LLP bought a new stake in shares of Applied Materials during the first quarter worth about $11,501,000. Finally, Renaissance Technologies LLC raised its stake in shares of Applied Materials by 342.2% in the first quarter. Renaissance Technologies LLC now owns 647,548 shares of the manufacturing equipment provider’s stock worth $13,715,000 after buying an additional 501,100 shares during the period. Hedge funds and other institutional investors own 82.20% of the company’s stock.
Shares of Applied Materials Inc. (NASDAQ:AMAT) traded down 0.47% during midday trading on Friday, hitting $29.75. 11,641,487 shares of the company traded hands. The stock’s 50-day moving average is $29.83 and its 200 day moving average is $24.93. Applied Materials Inc. has a 12-month low of $15.07 and a 12-month high of $31.07. The stock has a market capitalization of $32.16 billion, a P/E ratio of 23.46 and a beta of 1.84.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The firm earned $2.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts expect that Applied Materials Inc. will post $1.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s payout ratio is presently 31.25%.
A number of brokerages have recently issued reports on AMAT. Goldman Sachs Group Inc. set a $33.00 target price on shares of Applied Materials and gave the company a “buy” rating in a research note on Friday, August 19th. B. Riley restated a “buy” rating and issued a $27.00 target price on shares of Applied Materials in a research note on Tuesday, July 5th. RBC Capital Markets restated a “sector perform” rating and issued a $28.00 target price (up previously from $26.00) on shares of Applied Materials in a research note on Wednesday, August 17th. Credit Suisse Group AG restated a “buy” rating on shares of Applied Materials in a research note on Friday, June 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 target price (up previously from $29.00) on shares of Applied Materials in a research note on Sunday, August 21st. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Applied Materials has an average rating of “Buy” and an average price target of $30.72.
In other Applied Materials news, VP Omkaram Nalamasu sold 99,491 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $30.15, for a total value of $2,999,653.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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