Garelick Capital Partners LP boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 10.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 290,079 shares of the manufacturing equipment provider’s stock after purchasing an additional 27,877 shares during the quarter. Applied Materials makes up approximately 3.0% of Garelick Capital Partners LP’s holdings, making the stock its 17th largest holding. Garelick Capital Partners LP’s holdings in Applied Materials were worth $14,829,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Applied Materials by 9.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock valued at $23,607,000 after purchasing an additional 38,960 shares during the period. Prudential Financial Inc. boosted its position in Applied Materials by 1.1% during the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after purchasing an additional 64,186 shares during the period. Elite Wealth Management Inc. acquired a new position in Applied Materials during the 4th quarter valued at approximately $635,000. Janus Henderson Group PLC boosted its position in Applied Materials by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after purchasing an additional 650,755 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Applied Materials by 25.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock valued at $2,547,000 after purchasing an additional 10,200 shares during the period. Institutional investors and hedge funds own 79.93% of the company’s stock.
Several analysts have weighed in on the company. Susquehanna Bancshares raised Applied Materials from a “neutral” rating to a “positive” rating and lifted their target price for the company from $60.00 to $72.00 in a research note on Tuesday, January 16th. Bank of America lifted their target price on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. B. Riley reaffirmed a “buy” rating and set a $71.00 target price on shares of Applied Materials in a research note on Tuesday, January 16th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $59.06 target price on the stock in a research note on Friday, January 26th. Finally, UBS Group raised Applied Materials from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 16th. One equities research 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 company’s stock. Applied Materials presently has an average rating of “Buy” and a consensus price target of $64.10.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the business earned $0.67 EPS. research analysts forecast that Applied Materials, Inc. will post 4.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, May 23rd. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s payout ratio is currently 11.14%.
Applied Materials announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Stephen R. Forrest sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The disclosure for this sale can be found here. Insiders sold a total of 307,716 shares of company stock worth $15,928,746 in the last three months. Company insiders own 0.35% of the company’s stock.
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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