Jag Capital Management LLC cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,574 shares of the manufacturing equipment provider’s stock after selling 6,877 shares during the period. Applied Materials comprises approximately 2.6% of Jag Capital Management LLC’s holdings, making the stock its 11th largest holding. Jag Capital Management LLC’s holdings in Applied Materials were worth $13,832,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of AMAT. Janus Henderson Group PLC raised its holdings in shares of Applied Materials by 390.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock worth $472,835,000 after buying an additional 9,112,328 shares in the last quarter. Egerton Capital UK LLP increased its holdings in Applied Materials by 23.2% during 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 purchasing an additional 3,184,994 shares in the last quarter. Capital Research Global Investors increased its holdings in Applied Materials by 14.8% during 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 purchasing an additional 2,284,836 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in Applied Materials during the 3rd quarter valued at $97,804,000. Finally, Fred Alger Management Inc. increased its holdings in Applied Materials by 69.3% during the 2nd quarter. Fred Alger Management Inc. now owns 3,870,201 shares of the manufacturing equipment provider’s stock valued at $159,878,000 after purchasing an additional 1,583,748 shares in the last quarter. 79.30% of the stock is owned by institutional investors and hedge funds.
Applied Materials, Inc. (NASDAQ:AMAT) traded up $2.41 during trading hours on Wednesday, hitting $51.96. The stock had a trading volume of 20,004,099 shares, compared to its average volume of 13,810,000. Applied Materials, Inc. has a 1-year low of $34.58 and a 1-year high of $60.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. The company has a market cap of $54,740.00, a price-to-earnings ratio of 16.39, a P/E/G ratio of 0.97 and a beta of 1.72.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company earned $0.66 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. sell-side analysts predict that Applied Materials, Inc. will post 4.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be given a $0.20 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. Applied Materials’s dividend payout ratio (DPR) is currently 12.62%.
A number of research firms recently weighed in on AMAT. Vetr raised 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. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday. B. Riley reaffirmed a “buy” rating and set a $63.00 price target on shares of Applied Materials in a report on Monday, November 13th. JPMorgan Chase & Co. raised their price target on Applied Materials to $70.00 and gave the company an “overweight” rating in a report on Friday, November 17th. Finally, BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and an average target price of $62.56.
In other news, Director Stephen R. Forrest sold 4,000 shares of the firm’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 document filed with the SEC, which is available through this link. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction dated 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 312,716 shares of company stock worth $16,218,746 over the last 90 days. 0.35% of the stock is owned by corporate 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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