Tocqueville Asset Management L.P. reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,603 shares of the manufacturing equipment provider’s stock after selling 69,251 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.09% of Applied Materials worth $46,448,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in AMAT. BlackRock Inc. increased its position in shares of Applied Materials by 1.8% during the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after purchasing an additional 1,248,388 shares in the last quarter. Egerton Capital UK LLP boosted its holdings in Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after purchasing an additional 3,184,994 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Applied Materials by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 12,968,458 shares of the manufacturing equipment provider’s stock valued at $661,743,000 after purchasing an additional 234,528 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Applied Materials by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after purchasing an additional 650,755 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Applied Materials by 10.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock valued at $568,507,000 after purchasing an additional 1,033,700 shares in the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.
A number of research firms have recently issued reports on AMAT. Wells Fargo & Co began coverage on shares of Applied Materials in a research report on Tuesday, December 5th. They set an “outperform” rating and a $65.00 price target for the company. UBS Group upgraded Applied Materials from a “neutral” rating to a “positive” rating in a research report on Tuesday, January 16th. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.00 price target for the company. in a report on Wednesday, January 17th. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a research note on Friday, December 15th. Twenty-six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $64.10.
In related news, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction that occurred 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 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 ninety days, insiders sold 322,716 shares of company stock valued at $16,850,796. Insiders own 0.35% of the company’s stock.
Shares of Applied Materials, Inc. (NASDAQ AMAT) traded up $0.54 during trading hours on Wednesday, hitting $60.23. 11,896,381 shares of the company traded hands, compared to its average volume of 17,140,000. Applied Materials, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $62.40. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62. The stock has a market cap of $63,280.00, a P/E ratio of 16.78, a PEG ratio of 1.16 and a beta of 1.58.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the business posted $0.67 EPS. sell-side analysts predict that Applied Materials, Inc. will post 4.39 EPS for the current 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 $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.33%. Applied Materials’s payout ratio is currently 11.14%.
Applied Materials declared that its board has authorized a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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Applied Materials 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.
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