Marble Arch Investments LP lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,024,500 shares of the manufacturing equipment provider’s stock after selling 84,000 shares during the quarter. Applied Materials accounts for approximately 8.0% of Marble Arch Investments LP’s investment portfolio, making the stock its 4th biggest position. Marble Arch Investments LP owned about 0.19% of Applied Materials worth $103,492,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in Applied Materials in the fourth quarter valued at about $110,000. Risk Paradigm Group LLC acquired a new position in Applied Materials in the fourth quarter valued at about $110,000. Cerebellum GP LLC acquired a new position in Applied Materials in the fourth quarter valued at about $122,000. Zions Bancorporation raised its stake in Applied Materials by 349.1% in the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Applied Materials in the fourth quarter valued at about $169,000. 79.30% of the stock is owned by institutional investors.
In related news, VP Omkaram Nalamasu sold 53,466 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 that occurred on Friday, December 29th. The shares were sold at an average price of $51.47, for a total value of $6,440,183.75. The disclosure for this sale can be found here. Insiders sold 322,716 shares of company stock worth $16,850,796 over the last quarter. 0.35% of the stock is currently owned by company insiders.
AMAT has been the subject of several research analyst reports. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $61.64 target price for the company in a research note on Monday, November 27th. BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. ValuEngine raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Deutsche Bank boosted their target price on Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC boosted their target price on Applied Materials to $66.00 and gave the stock a “positive” rating in a research note on Friday, November 17th. Twenty-six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $64.10.
Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at $59.69 on Wednesday. The firm has a market capitalization of $62,720.00, a PE ratio of 16.63, a PEG ratio of 1.16 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. Applied Materials, Inc. has a twelve month low of $37.41 and a twelve month high of $62.40.
Applied Materials (NASDAQ:AMAT) last released its quarterly 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. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same period in the previous year, the business posted $0.67 earnings per share. research analysts anticipate that Applied Materials, Inc. will post 4.39 EPS for the current year.
Applied Materials announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be issued a dividend of $0.20 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s payout ratio is 11.14%.
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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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