Navellier & Associates Inc decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,517 shares of the manufacturing equipment provider’s stock after selling 2,459 shares during the period. Applied Materials makes up 1.2% of Navellier & Associates Inc’s holdings, making the stock its 15th biggest position. Navellier & Associates Inc’s holdings in Applied Materials were worth $7,925,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Lansdowne Partners UK LLP bought a new position in shares of Applied Materials in the fourth quarter worth $370,984,000. BlackRock Inc. increased its position in shares of Applied Materials by 10.5% in the first quarter. BlackRock Inc. now owns 76,112,124 shares of the manufacturing equipment provider’s stock worth $4,232,597,000 after purchasing an additional 7,222,175 shares during the period. Jackson Square Partners LLC bought a new position in shares of Applied Materials in the fourth quarter worth $284,833,000. Winslow Capital Management LLC increased its position in shares of Applied Materials by 2,586,194.2% in the first quarter. Winslow Capital Management LLC now owns 3,129,416 shares of the manufacturing equipment provider’s stock worth $174,027,000 after purchasing an additional 3,129,295 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Applied Materials by 631.8% in the fourth quarter. Macquarie Group Ltd. now owns 1,962,471 shares of the manufacturing equipment provider’s stock worth $100,438,000 after purchasing an additional 1,694,283 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.
A number of brokerages recently commented on AMAT. Cowen began coverage on Applied Materials in a research report on Monday, May 14th. They issued a “market perform” rating and a $60.00 price target on the stock. Needham & Company LLC decreased their price target on Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating on the stock in a research report on Monday, May 21st. ValuEngine cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Thursday, April 19th. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, February 19th. Finally, Stifel Nicolaus raised their price target on Applied Materials from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 18th. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.20.
Applied Materials stock opened at $48.32 on Tuesday. Applied Materials, Inc. has a 12-month low of $40.79 and a 12-month high of $62.40. The company has a current ratio of 2.60, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 17th. The manufacturing equipment provider reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.08. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the firm posted $0.79 earnings per share. equities analysts anticipate that Applied Materials, Inc. will post 4.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Thursday, August 23rd 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 1.66%. The ex-dividend date of this dividend is Wednesday, August 22nd. Applied Materials’s payout ratio is 24.62%.
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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