Profund Advisors LLC increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,941 shares of the manufacturing equipment provider’s stock after acquiring an additional 51,402 shares during the period. Applied Materials comprises 0.6% of Profund Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Profund Advisors LLC’s holdings in Applied Materials were worth $16,407,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AMAT. MANA Advisors LLC acquired a new stake in shares of Applied Materials during the 4th quarter worth about $1,164,000. University of Notre Dame DU Lac purchased a new position in shares of Applied Materials in the 4th quarter valued at approximately $6,477,000. Moors & Cabot Inc. grew its stake in shares of Applied Materials by 66.1% in the 4th quarter. Moors & Cabot Inc. now owns 21,287 shares of the manufacturing equipment provider’s stock valued at $1,084,000 after purchasing an additional 8,468 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of Applied Materials by 301.2% in the 4th quarter. Scotia Capital Inc. now owns 50,196 shares of the manufacturing equipment provider’s stock valued at $2,566,000 after buying an additional 37,683 shares during the period. Finally, American Money Management LLC lifted its holdings in shares of Applied Materials by 23.7% in the 4th quarter. American Money Management LLC now owns 14,125 shares of the manufacturing equipment provider’s stock valued at $722,000 after buying an additional 2,710 shares during the period. 79.30% of the stock is currently owned by institutional investors.
In other news, VP Omkaram Nalamasu sold 53,466 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total value of $2,833,698.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction dated 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. Insiders have sold a total of 322,716 shares of company stock worth $16,850,796 over the last three months. Insiders own 0.35% of the company’s stock.
A number of research firms have recently weighed in on AMAT. Nomura reissued a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Citigroup boosted their price target on Applied Materials from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 target price for the company in a research report on Monday, November 20th. Deutsche Bank boosted their price target on Applied Materials from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Bank of America upped their price objective on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Twenty-six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.10.
Applied Materials, Inc. (NASDAQ:AMAT) traded up $0.54 during trading hours on Wednesday, hitting $60.23. 11,875,665 shares of the stock were exchanged, compared to its average volume of 15,202,267. The company has a quick ratio of 2.25, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $63,150.00, a PE ratio of 16.78, a P/E/G ratio of 1.16 and a beta of 1.58. Applied Materials, Inc. has a 52 week low of $37.41 and a 52 week high of $62.40.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same quarter last year, the business posted $0.67 earnings per share. analysts anticipate that Applied Materials, Inc. will post 4.39 earnings per share for the current fiscal year.
Applied Materials declared that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a $0.20 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s payout ratio is currently 11.14%.
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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