Todd Asset Management LLC bought a new position in shares of Applied Materials (NASDAQ:AMAT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 295,469 shares of the manufacturing equipment provider’s stock, valued at approximately $16,431,000.
Several other institutional investors also recently modified their holdings of AMAT. Acadian Asset Management LLC boosted its holdings in shares of Applied Materials by 30,757.9% during the 4th quarter. Acadian Asset Management LLC now owns 11,726 shares of the manufacturing equipment provider’s stock worth $599,000 after purchasing an additional 11,688 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Applied Materials during the 4th quarter worth approximately $122,000. Flagship Harbor Advisors LLC acquired a new position in Applied Materials in the fourth quarter valued at approximately $259,000. Rathbone Brothers plc acquired a new position in Applied Materials in the fourth quarter valued at approximately $469,000. Finally, Lourd Capital LLC acquired a new position in Applied Materials in the fourth quarter valued at approximately $1,020,000. Institutional investors and hedge funds own 75.50% of the company’s stock.
In other news, Director Thomas J. Iannotti sold 15,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the sale, the director now owns 76,967 shares of the company’s stock, valued at $4,731,161.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.
Shares of Applied Materials opened at $50.85 on Friday, according to MarketBeat. Applied Materials has a 52-week low of $40.79 and a 52-week high of $62.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.60. The company has a market capitalization of $53.34 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.85 and a beta of 1.65.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. analysts predict that Applied Materials will post 4.56 earnings per share for the current fiscal year.
Applied Materials announced that its board has authorized a share repurchase program on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
AMAT has been the topic of a number of recent analyst reports. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $59.06 price objective on the stock in a report on Friday, January 26th. BidaskClub cut Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. ValuEngine upgraded Applied Materials from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, KeyCorp upped their price objective on Applied Materials from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating, twenty-one have issued 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 target price of $64.56.
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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