Bridgewater Associates LP raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 568,949 shares of the manufacturing equipment provider’s stock after acquiring an additional 17,225 shares during the quarter. Bridgewater Associates LP owned approximately 0.06% of Applied Materials worth $21,990,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Rational Advisors LLC boosted its stake in shares of Applied Materials by 5,102.0% in the 2nd quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 2,551 shares during the last quarter. ELM Advisors LLC bought a new position in Applied Materials during the third quarter worth $157,000. Amussen Hunsaker Associates LLC bought a new position in Applied Materials during the second quarter worth $162,000. LFA Lugano Financial Advisors SA bought a new position in Applied Materials during the second quarter worth $177,000. Finally, Freestone Capital Holdings LLC bought a new position in Applied Materials during the third quarter worth $200,000. Hedge funds and other institutional investors own 78.74% of the company’s stock.
AMAT has been the topic of several research analyst reports. Cowen raised shares of Applied Materials from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $62.00 in a research note on Monday, August 6th. Morgan Stanley lowered shares of Applied Materials from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $58.00 to $54.00 in a research note on Thursday, August 9th. Wells Fargo & Co cut their target price on shares of Applied Materials from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 17th. Stifel Nicolaus cut their target price on shares of Applied Materials from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Finally, KeyCorp cut their target price on shares of Applied Materials from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $52.14.
Applied Materials stock opened at $36.54 on Friday. Applied Materials, Inc. has a 1-year low of $30.53 and a 1-year high of $62.40. The firm has a market capitalization of $36.48 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.73 and a current ratio of 2.64.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4 billion. Equities research analysts predict that Applied Materials, Inc. will post 3.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 17.98%.
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About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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