Parnassus Investments CA raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 139.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,700,000 shares of the manufacturing equipment provider’s stock after purchasing an additional 3,900,000 shares during the period. Parnassus Investments CA owned about 0.70% of Applied Materials worth $219,358,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Moody National Bank Trust Division acquired a new stake in shares of Applied Materials during the 4th quarter valued at approximately $25,000. Mondrian Capital Management LLC acquired a new stake in shares of Applied Materials during the 4th quarter valued at approximately $33,000. Certified Advisory Corp raised its position in shares of Applied Materials by 59.8% during the 4th quarter. Certified Advisory Corp now owns 1,080 shares of the manufacturing equipment provider’s stock valued at $35,000 after acquiring an additional 404 shares in the last quarter. Essex Savings Bank acquired a new stake in shares of Applied Materials during the 4th quarter valued at approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Applied Materials by 168.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,268 shares of the manufacturing equipment provider’s stock valued at $42,000 after acquiring an additional 795 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on AMAT shares. KeyCorp reissued an “overweight” rating and set a $56.00 price target (down from $71.00) on shares of Applied Materials in a research report on Friday, November 16th. Deutsche Bank dropped their price target on Applied Materials from $43.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, November 16th. BidaskClub upgraded Applied Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. ValuEngine upgraded Applied Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research downgraded Applied Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $50.96.
NASDAQ:AMAT opened at $40.52 on Tuesday. Applied Materials, Inc. has a 1 year low of $28.79 and a 1 year high of $62.40. The firm has a market capitalization of $37.91 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.69. The company has a quick ratio of 1.73, a current ratio of 2.64 and a debt-to-equity ratio of 0.78.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.97. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4 billion. As a group, sell-side analysts predict that Applied Materials, Inc. will post 3.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 21st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.97%. Applied Materials’s payout ratio is 17.98%.
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Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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