DnB Asset Management AS increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 15.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 205,035 shares of the manufacturing equipment provider’s stock after acquiring an additional 28,200 shares during the period. DnB Asset Management AS’s holdings in Applied Materials were worth $10,481,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in AMAT. Vanguard Group Inc. raised its position in shares of Applied Materials by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock valued at $3,101,736,000 after purchasing an additional 1,721,964 shares in the last quarter. State Street Corp increased its holdings in shares of Applied Materials by 2.1% in the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock valued at $2,019,939,000 after acquiring an additional 985,296 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Applied Materials by 14.8% in the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after acquiring an additional 2,284,836 shares during the last quarter. Egerton Capital UK LLP increased its holdings in shares of Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after acquiring an additional 3,184,994 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Applied Materials by 5.7% in 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 acquiring an additional 650,755 shares during the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on AMAT shares. Nomura reiterated a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Citigroup boosted their price target on Applied Materials from $60.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 20th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 price target for the company in a report on Monday, November 20th. Bank of America boosted their price target on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, B. Riley restated a “buy” rating and set a $63.00 price objective on shares of Applied Materials in a research note on Monday, November 13th. One research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $62.56.
Shares of Applied Materials, Inc. (NASDAQ AMAT) traded down $2.60 during trading on Friday, hitting $50.68. The stock had a trading volume of 16,812,621 shares, compared to its average volume of 11,200,000. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. The firm has a market capitalization of $53,390.00, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.72. Applied Materials, Inc. has a twelve month low of $34.58 and a twelve month high of $60.89.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the business posted $0.66 earnings per share. Applied Materials’s revenue was up 20.4% compared to the same quarter last year. equities research analysts expect that Applied Materials, Inc. will post 4.04 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Tuesday, February 20th. Applied Materials’s dividend payout ratio is 12.62%.
In related news, VP Omkaram Nalamasu sold 53,466 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total value of $2,833,698.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is currently owned by company insiders.
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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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