US Bancorp DE trimmed its position in Applied Materials (NASDAQ:AMAT) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,793 shares of the manufacturing equipment provider’s stock after selling 19,293 shares during the quarter. US Bancorp DE’s holdings in Applied Materials were worth $19,062,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in AMAT. Elite Wealth Management Inc. purchased a new stake in shares of Applied Materials in the fourth quarter worth approximately $635,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Applied Materials by 25.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock worth $2,547,000 after purchasing an additional 10,200 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Applied Materials in the fourth quarter worth approximately $450,000. MML Investors Services LLC lifted its position in shares of Applied Materials by 52.3% in the fourth quarter. MML Investors Services LLC now owns 32,299 shares of the manufacturing equipment provider’s stock worth $1,651,000 after purchasing an additional 11,085 shares in the last quarter. Finally, First Dallas Securities Inc. purchased a new stake in shares of Applied Materials in the fourth quarter worth approximately $856,000. Institutional investors own 78.49% of the company’s stock.
AMAT has been the subject of a number of research analyst reports. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $59.06 price target for the company in a research report on Friday, January 26th. BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, February 19th. UBS initiated coverage on shares of Applied Materials in a research report on Wednesday, April 4th. They set a “neutral” rating and a $58.00 price objective on the stock. Finally, Credit Suisse Group raised their price objective on shares of Applied Materials from $72.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Applied Materials presently has a consensus rating of “Buy” and an average price target of $64.72.
Applied Materials opened at $49.51 on Friday, Marketbeat.com reports. Applied Materials has a 12 month low of $40.79 and a 12 month high of $62.40. The company has a market capitalization of $56.70 billion, a PE ratio of 15.23, a PEG ratio of 0.92 and a beta of 1.65. 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 (NASDAQ:AMAT) last released 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 net margin of 19.24% and a return on equity of 49.00%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the firm posted $0.79 earnings per share. analysts predict that Applied Materials will post 4.41 earnings per share for the current fiscal year.
Applied Materials announced that its Board of Directors has initiated a stock repurchase program 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 buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Thomas J. Iannotti sold 15,000 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $61.47, for a total value of $922,050.00. Following the sale, the director now owns 76,967 shares in the company, valued at $4,731,161.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.
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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