Hoylecohen LLC purchased a new position in Applied Materials (NASDAQ:AMAT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 43,518 shares of the manufacturing equipment provider’s stock, valued at approximately $2,225,000.
Other institutional investors have also modified their holdings of the company. Nationwide Fund Advisors increased its stake in Applied Materials by 1.4% in the 3rd quarter. Nationwide Fund Advisors now owns 1,543,224 shares of the manufacturing equipment provider’s stock worth $80,387,000 after purchasing an additional 21,034 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in Applied Materials in the 3rd quarter worth about $650,000. Bessemer Group Inc. increased its stake in Applied Materials by 137.3% in the 3rd quarter. Bessemer Group Inc. now owns 7,278 shares of the manufacturing equipment provider’s stock worth $379,000 after purchasing an additional 4,211 shares in the last quarter. Jarislowsky Fraser Ltd increased its stake in Applied Materials by 19.3% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 19,090 shares of the manufacturing equipment provider’s stock worth $994,000 after purchasing an additional 3,090 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Applied Materials in the 3rd quarter worth about $1,058,000. Hedge funds and other institutional investors own 79.29% of the company’s stock.
In related news, Director Thomas J. Iannotti sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total value of $922,050.00. Following the completion of the sale, the director now directly owns 76,967 shares in the company, valued at approximately $4,731,161.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.
AMAT has been the topic of several research analyst reports. Susquehanna Bancshares raised Applied Materials from a “neutral” rating to a “positive” rating and lifted their target price for the company from $60.00 to $72.00 in a research note on Tuesday, January 16th. B. Riley reaffirmed a “buy” rating and set a $71.00 target price on shares of Applied Materials in a research note on Tuesday, January 16th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $59.06 target price on the stock in a research note on Friday, January 26th. UBS raised Applied Materials from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 16th. Finally, Zacks Investment Research raised Applied Materials from a “hold” rating to a “strong-buy” rating and set a $59.00 target price on the stock in a research note on Friday, December 15th. One investment analyst has rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Applied Materials has an average rating of “Buy” and a consensus price target of $64.66.
AMAT opened at $52.34 on Friday. Applied Materials has a twelve month low of $37.41 and a twelve month high of $62.40. 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 capitalization of $57,041.80, a P/E ratio of 16.10, a P/E/G ratio of 0.93 and a beta of 1.63.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the company earned $0.67 EPS. equities analysts expect that Applied Materials will post 4.41 earnings per share for the current year.
Applied Materials declared that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be issued 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 yield of 1.53%. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s payout ratio is 12.31%.
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Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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