Mackenzie Financial Corp Grows Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mackenzie Financial Corp lifted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 33.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 272,206 shares of the manufacturing equipment provider’s stock after buying an additional 67,695 shares during the quarter. Mackenzie Financial Corp’s holdings in Applied Materials were worth $44,116,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Freedom LLC purchased a new stake in Applied Materials during the fourth quarter valued at $25,000. Global Wealth Management Investment Advisory Inc. raised its stake in Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in Applied Materials during the third quarter valued at $39,000. Quarry LP purchased a new stake in Applied Materials during the first quarter valued at $40,000. Finally, RVW Wealth LLC bought a new stake in shares of Applied Materials in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.8 %

AMAT stock opened at $209.48 on Wednesday. The firm’s fifty day simple moving average is $201.54 and its 200-day simple moving average is $168.85. The company has a market capitalization of $174.06 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 3.11 and a beta of 1.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.71 and a quick ratio of 1.91. Applied Materials, Inc. has a 12 month low of $109.00 and a 12 month high of $214.91.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.48 billion. During the same period in the previous year, the business posted $2.03 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 0.76%. Applied Materials’s dividend payout ratio is currently 15.06%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMAT shares. Bank Of America (Bofa) raised their target price on shares of Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Applied Materials in a report on Thursday, April 11th. They issued a “hold” rating and a $225.00 price target for the company. Mizuho boosted their price target on shares of Applied Materials from $185.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 16th. Cantor Fitzgerald upgraded shares of Applied Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $220.00 to $260.00 in a report on Monday, April 8th. Finally, Morgan Stanley boosted their price target on shares of Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.50.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.