Panagora Asset Management Inc. boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 889,525 shares of the manufacturing equipment provider’s stock after purchasing an additional 43,129 shares during the quarter. Applied Materials makes up approximately 0.7% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 19th largest holding. Panagora Asset Management Inc. owned about 0.10% of Applied Materials worth $118,841,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Applied Materials by 65.6% during the fourth quarter. FMR LLC now owns 15,966,445 shares of the manufacturing equipment provider’s stock worth $1,377,905,000 after acquiring an additional 6,325,128 shares during the last quarter. Norges Bank purchased a new stake in shares of Applied Materials during the fourth quarter worth about $1,096,543,000. UBS Asset Management Americas Inc. grew its stake in shares of Applied Materials by 44.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 6,003,934 shares of the manufacturing equipment provider’s stock worth $518,140,000 after acquiring an additional 1,853,260 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Applied Materials by 20.6% during the fourth quarter. Lazard Asset Management LLC now owns 5,304,134 shares of the manufacturing equipment provider’s stock worth $457,746,000 after acquiring an additional 906,803 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Applied Materials by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,203,546 shares of the manufacturing equipment provider’s stock worth $362,767,000 after acquiring an additional 95,824 shares during the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.
A number of brokerages recently commented on AMAT. Susquehanna upped their target price on Applied Materials from $155.00 to $170.00 and gave the company a “positive” rating in a research report on Friday, May 21st. Bank of America upped their target price on Applied Materials from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 23rd. Barclays upped their target price on Applied Materials from $125.00 to $150.00 in a research report on Wednesday, April 7th. Deutsche Bank Aktiengesellschaft upped their target price on Applied Materials from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 16th. Finally, Mizuho upped their price objective on Applied Materials from $155.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 21st. Two investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $153.58.
Shares of AMAT traded down $1.84 during midday trading on Friday, reaching $135.32. The company had a trading volume of 26,299 shares, compared to its average volume of 9,642,751. Applied Materials, Inc. has a 1-year low of $54.15 and a 1-year high of $146.00. The company has a market capitalization of $123.68 billion, a PE ratio of 28.63, a PEG ratio of 1.19 and a beta of 1.45. The business has a 50 day simple moving average of $133.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.26 and a current ratio of 3.10.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Wednesday, May 19th. The manufacturing equipment provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.12. Applied Materials had a return on equity of 45.08% and a net margin of 22.35%. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $0.89 EPS. The company’s revenue for the quarter was up 41.1% on a year-over-year basis. On average, sell-side analysts predict that Applied Materials, Inc. will post 6.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, May 27th will be given a $0.24 dividend. The ex-dividend date is Wednesday, May 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.71%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.22. Applied Materials’s dividend payout ratio (DPR) is currently 23.02%.
Applied Materials 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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