Wade G W & Inc. bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,521 shares of the manufacturing equipment provider’s stock, valued at approximately $231,000.
Other large investors have also made changes to their positions in the company. Egerton Capital UK LLP raised its holdings in Applied Materials by 23.2% during the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after purchasing an additional 3,184,994 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Applied Materials during the third quarter worth about $97,804,000. BlackRock Inc. raised its holdings in Applied Materials by 1.8% during the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after purchasing an additional 1,248,388 shares in the last quarter. Nordea Investment Management AB raised its holdings in Applied Materials by 192.6% during the third quarter. Nordea Investment Management AB now owns 1,652,089 shares of the manufacturing equipment provider’s stock worth $86,057,000 after purchasing an additional 1,087,432 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Applied Materials by 10.2% during 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 in the last quarter. 79.93% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Thursday. Credit Suisse Group reissued an “outperform” rating and set a $75.00 price target (up from $74.00) on shares of Applied Materials in a report on Monday. Vetr cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $62.52 price target for the company. in a report on Tuesday, February 20th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, February 19th. Finally, Deutsche Bank increased their price target on shares of Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Twenty-six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and an average price target of $64.10.
Shares of Applied Materials, Inc. (AMAT) traded down $0.05 during midday trading on Thursday, reaching $57.59. 13,151,500 shares of the company were exchanged, compared to its average volume of 14,621,857. Applied Materials, Inc. has a 1 year low of $36.33 and a 1 year high of $60.89. The firm has a market capitalization of $60,220.00, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.09 and a beta of 1.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.08. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates 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 business earned $0.67 earnings per share. analysts anticipate that Applied Materials, Inc. will post 4.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be issued 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 a positive change from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is 11.14%.
Applied Materials declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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About Applied Materials
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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