Baird Financial Group Inc. grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 39.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,528 shares of the manufacturing equipment provider’s stock after purchasing an additional 30,684 shares during the period. Baird Financial Group Inc.’s holdings in Applied Materials were worth $5,497,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Thomas White International Ltd. acquired a new stake in Applied Materials in the fourth quarter worth $422,000. Norinchukin Bank The raised its holdings in Applied Materials by 7.4% in the fourth quarter. Norinchukin Bank The now owns 85,267 shares of the manufacturing equipment provider’s stock worth $4,359,000 after purchasing an additional 5,888 shares during the period. American International Group Inc. raised its holdings in Applied Materials by 1.5% in the fourth quarter. American International Group Inc. now owns 496,130 shares of the manufacturing equipment provider’s stock worth $25,362,000 after purchasing an additional 7,496 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Applied Materials by 10.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock worth $568,507,000 after purchasing an additional 1,033,700 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in Applied Materials by 202.0% in the fourth quarter. Wedbush Securities Inc. now owns 15,409 shares of the manufacturing equipment provider’s stock worth $788,000 after purchasing an additional 10,306 shares during the period. Institutional investors own 79.93% of the company’s stock.
Several equities research analysts have weighed in on the stock. Vetr lowered shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price on the stock. in a report on Tuesday, November 21st. Nomura reissued a “buy” rating and set a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a research report on Tuesday, November 21st. Credit Suisse Group increased their price objective on shares of Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Royal Bank of Canada increased their price objective on shares of Applied Materials from $55.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Finally, Deutsche Bank increased their price objective on shares of Applied Materials from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. One analyst has rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.06.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same quarter last year, the firm earned $0.67 earnings per share. equities analysts forecast that Applied Materials, Inc. will post 4.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is 11.14%.
Applied Materials announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen R. Forrest sold 4,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,716 shares of company stock valued at $15,928,746. 0.35% of the stock is owned by insiders.
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Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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