Systematic Financial Management LP lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 21.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,345 shares of the manufacturing equipment provider’s stock after selling 16,006 shares during the quarter. Systematic Financial Management LP’s holdings in Applied Materials were worth $2,983,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in shares of Applied Materials by 9.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock valued at $23,607,000 after acquiring an additional 38,960 shares during the period. Prudential Financial Inc. increased its stake in shares of Applied Materials by 1.1% during the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after acquiring an additional 64,186 shares during the period. Elite Wealth Management Inc. acquired a new position in shares of Applied Materials during the fourth quarter valued at approximately $635,000. Janus Henderson Group PLC grew its position in Applied Materials by 5.7% in the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after buying an additional 650,755 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Applied Materials by 25.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock worth $2,547,000 after buying an additional 10,200 shares during the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
Several research analysts have issued reports on AMAT shares. Royal Bank of Canada restated a “buy” rating on shares of Applied Materials in a research report on Friday, October 27th. B. Riley restated a “buy” rating and issued a $63.00 price target on shares of Applied Materials in a research report on Monday, November 13th. Bank of America lifted their price target on shares of Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Credit Suisse Group lifted their price target on shares of Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Finally, Needham & Company LLC lifted their price target on shares of Applied Materials to $66.00 and gave the stock a “positive” rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.06.
In other Applied Materials news, Director Stephen R. Forrest sold 4,000 shares of Applied Materials stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of Applied Materials stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Insiders have sold a total of 307,716 shares of company stock valued at $15,928,746 in the last three months. Company insiders own 0.35% of the company’s stock.
Applied Materials, Inc. (AMAT) opened at $57.01 on Friday. Applied Materials, Inc. has a 52 week low of $35.55 and a 52 week high of $60.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25. The company has a market cap of $58,912.02, a P/E ratio of 21.51, a P/E/G ratio of 1.06 and a beta of 1.72.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the business posted $0.67 EPS. analysts forecast that Applied Materials, Inc. will post 4.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is 15.09%.
Applied Materials announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is 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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