Franklin Resources Inc. trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 16.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,942,843 shares of the manufacturing equipment provider’s stock after selling 593,974 shares during the period. Franklin Resources Inc. owned 0.28% of Applied Materials worth $150,506,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Gabelli Funds LLC raised its position in shares of Applied Materials by 1.2% during the 4th quarter. Gabelli Funds LLC now owns 87,000 shares of the manufacturing equipment provider’s stock valued at $4,447,000 after buying an additional 1,000 shares in the last quarter. Bbva Compass Bancshares Inc. raised its position in shares of Applied Materials by 27.7% during the 4th quarter. Bbva Compass Bancshares Inc. now owns 4,799 shares of the manufacturing equipment provider’s stock valued at $245,000 after buying an additional 1,041 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO raised its position in shares of Applied Materials by 1.8% during the 3rd quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 59,482 shares of the manufacturing equipment provider’s stock valued at $3,098,000 after buying an additional 1,062 shares in the last quarter. Telemus Capital LLC raised its position in shares of Applied Materials by 9.4% during the 4th quarter. Telemus Capital LLC now owns 13,300 shares of the manufacturing equipment provider’s stock valued at $680,000 after buying an additional 1,138 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Applied Materials by 23.3% during the 4th quarter. Signaturefd LLC now owns 6,083 shares of the manufacturing equipment provider’s stock valued at $311,000 after buying an additional 1,148 shares in the last quarter. 79.30% of the stock is owned by hedge funds and other institutional investors.
AMAT has been the topic of several research reports. Bank of America raised their price objective on shares of Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Royal Bank of Canada raised their price objective on shares of Applied Materials from $55.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Credit Suisse Group raised their price objective on shares of Applied Materials from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Needham & Company LLC raised their price objective on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a research report on Friday, November 17th. Finally, Deutsche Bank lifted their target price on shares of Applied Materials from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Twenty-six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus target price of $64.10.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. equities research analysts expect that Applied Materials, Inc. will post 4.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be given a $0.20 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. Applied Materials’s payout ratio is presently 15.09%.
Applied Materials announced that its Board of Directors has authorized a share repurchase plan 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 plans are often a sign that the company’s management believes its stock is undervalued.
In other news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction dated Monday, March 12th. The shares were 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 approximately $4,731,161.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $51.47, for a total transaction 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 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.
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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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