Teachers Advisors LLC cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,362,387 shares of the manufacturing equipment provider’s stock after selling 110,625 shares during the period. Teachers Advisors LLC owned approximately 0.41% of Applied Materials worth $223,005,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of AMAT. Lansdowne Partners UK LLP acquired a new stake in Applied Materials in the 4th quarter worth about $370,984,000. Jackson Square Partners LLC acquired a new stake in Applied Materials in the 4th quarter worth about $284,833,000. First Eagle Investment Management LLC acquired a new stake in Applied Materials in the 3rd quarter worth about $97,804,000. BlackRock Inc. boosted its holdings in Applied Materials by 1.8% in the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after buying an additional 1,248,388 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Applied Materials by 192.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,652,089 shares of the manufacturing equipment provider’s stock worth $86,057,000 after buying an additional 1,087,432 shares during the last quarter. Hedge funds and other institutional investors own 79.30% of the company’s stock.
AMAT has been the topic of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $63.00 price objective on shares of Applied Materials in a report on Monday, November 13th. Bank of America lifted their price objective on Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Royal Bank of Canada lifted their price objective on Applied Materials from $55.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Credit Suisse Group lifted their price objective on Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Finally, Needham & Company LLC raised their target price on shares of 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 stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.10.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.08. The firm had revenue of $4.20 billion for 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 in the previous year, the company earned $0.67 EPS. analysts forecast that Applied Materials, Inc. will post 4.39 earnings per share for the current year.
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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Wednesday, May 23rd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s payout ratio is presently 11.14%.
Applied Materials announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Applied Materials news, VP Omkaram Nalamasu sold 53,466 shares of the business’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 document filed with the SEC, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total value of $214,680.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 307,716 shares of company stock worth $15,928,746. Corporate insiders own 0.35% of the company’s stock.
Applied Materials Company 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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