Franklin Resources Inc. lowered its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 16.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,942,843 shares of the manufacturing equipment provider’s stock after selling 593,974 shares during the period. Franklin Resources Inc.’s holdings in Applied Materials were worth $150,506,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Lansdowne Partners UK LLP purchased a new position in Applied Materials in the fourth quarter worth about $370,984,000. Jackson Square Partners LLC purchased a new position in Applied Materials in the fourth quarter worth about $284,833,000. First Eagle Investment Management LLC purchased a new position in Applied Materials in the third quarter worth about $97,804,000. BlackRock Inc. raised its holdings in Applied Materials by 1.8% in the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after buying an additional 1,248,388 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Applied Materials by 192.6% in 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 buying an additional 1,087,432 shares during the last quarter. 79.30% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on the stock. Vetr cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price for the company. in a report on Tuesday, November 21st. Nomura reaffirmed a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Credit Suisse Group lifted their target price on shares of Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Royal Bank of Canada lifted their target price on shares of Applied Materials from $55.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Finally, Deutsche Bank lifted their target price on shares of Applied Materials from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Twenty-six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $64.10.
Shares of Applied Materials, Inc. (AMAT) opened at $59.69 on Wednesday. Applied Materials, Inc. has a twelve month low of $37.41 and a twelve month high of $62.40. The company has a market cap of $64,060.39, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.58. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the company earned $0.67 earnings per share. equities research analysts predict 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. Shareholders of record on Thursday, May 24th will be issued a dividend of $0.20 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s dividend payout ratio is currently 15.09%.
Applied Materials declared that its board has authorized a share buyback program on Wednesday, February 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Applied Materials Company 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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