Quadrature Capital Ltd purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 266,884 shares of the manufacturing equipment provider’s stock, valued at approximately $13,643,000. Applied Materials makes up 1.2% of Quadrature Capital Ltd’s holdings, making the stock its 12th largest holding.
Other large investors have also recently added to or reduced their stakes in the company. LeJeune Puetz Investment Counsel LLC acquired a new position in Applied Materials in the third quarter valued at about $105,000. Cerebellum GP LLC bought a new position in shares of Applied Materials in the fourth quarter worth about $122,000. First Personal Financial Services raised its stake in shares of Applied Materials by 281.5% in the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock worth $134,000 after acquiring an additional 1,900 shares during the last quarter. Zions Bancorporation raised its stake in shares of Applied Materials by 349.1% in the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock worth $137,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Mosaic Family Wealth LLC raised its stake in shares of Applied Materials by 56.1% in the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock worth $142,000 after acquiring an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 79.93% of the company’s stock.
A number of brokerages have weighed in on AMAT. KeyCorp boosted their target price on shares of Applied Materials from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Vetr downgraded shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price for the company. in a research note 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 research note on Tuesday, November 21st. Citigroup boosted their target price on shares of Applied Materials from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, Deutsche Bank boosted their target price on shares of Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $64.06.
Shares of Applied Materials, Inc. (AMAT) opened at $56.07 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. The firm has a market cap of $59,037.70, a P/E ratio of 21.16, a P/E/G ratio of 1.08 and a beta of 1.72. Applied Materials, Inc. has a 12 month low of $35.55 and a 12 month high of $60.89.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.08. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same period in the previous year, the firm posted $0.67 earnings per share. analysts predict that Applied Materials, Inc. will post 4.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s payout ratio is 15.09%.
Applied Materials declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, Director Stephen R. Forrest sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,716 shares of company stock valued at $15,928,746. 0.35% of the stock is currently owned by insiders.
ILLEGAL ACTIVITY WARNING: “Quadrature Capital Ltd Purchases Shares of 266,884 Applied Materials, Inc. (AMAT)” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/23/quadrature-capital-ltd-purchases-shares-of-266884-applied-materials-inc-amat.html.
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.
Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.