Driehaus Capital Management LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 95.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,387 shares of the manufacturing equipment provider’s stock after selling 488,380 shares during the period. Driehaus Capital Management LLC’s holdings in Applied Materials were worth $1,093,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in AMAT. Lansdowne Partners UK LLP purchased a new stake in shares of Applied Materials in the fourth quarter valued at about $370,984,000. Jackson Square Partners LLC acquired a new position in shares of Applied Materials in the fourth quarter valued at approximately $284,833,000. First Eagle Investment Management LLC acquired a new position in shares of Applied Materials in the third quarter valued at approximately $97,804,000. BlackRock Inc. raised its position in shares of Applied Materials by 1.8% in the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock valued at $3,521,655,000 after buying an additional 1,248,388 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Applied Materials by 192.6% in the third quarter. Nordea Investment Management AB now owns 1,652,089 shares of the manufacturing equipment provider’s stock valued at $86,057,000 after buying an additional 1,087,432 shares during the last quarter. 79.30% of the stock is currently owned by institutional investors.
In other news, VP Ali Salehpour sold 125,125 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Omkaram Nalamasu sold 53,466 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Insiders have sold 322,716 shares of company stock valued at $16,850,796 in the last ninety days. 0.35% of the stock is currently owned by company insiders.
Applied Materials, Inc. (NASDAQ:AMAT) opened at $59.69 on Wednesday. Applied Materials, Inc. has a 52-week low of $37.41 and a 52-week high of $62.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. The company has a market cap of $64,060.39, a P/E ratio of 22.52, a P/E/G ratio of 1.16 and a beta of 1.58.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 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 firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. equities research analysts expect that Applied Materials, Inc. will post 4.39 EPS for the current fiscal year.
Applied Materials announced that its board has initiated a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a dividend of $0.20 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. This represents a $0.80 annualized dividend and a yield of 1.34%. Applied Materials’s dividend payout ratio is 15.09%.
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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