Williams Jones & Associates LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.5% during the first quarter, HoldingsChannel reports. The firm owned 9,595 shares of the manufacturing equipment provider’s stock after acquiring an additional 500 shares during the period. Williams Jones & Associates LLC’s holdings in Applied Materials were worth $381,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. raised its stake in Applied Materials by 13.1% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,824 shares of the manufacturing equipment provider’s stock worth $1,103,000 after acquiring an additional 3,227 shares in the last quarter. TCG Advisors LP acquired a new stake in Applied Materials during the 1st quarter worth $63,000. Aureus Asset Management LLC raised its stake in Applied Materials by 27.7% during the 1st quarter. Aureus Asset Management LLC now owns 68,797 shares of the manufacturing equipment provider’s stock worth $2,728,000 after acquiring an additional 14,903 shares in the last quarter. Wealthfront Advisers LLC raised its stake in Applied Materials by 24.8% during the 1st quarter. Wealthfront Advisers LLC now owns 26,405 shares of the manufacturing equipment provider’s stock worth $1,047,000 after acquiring an additional 5,255 shares in the last quarter. Finally, Burney Co. raised its stake in Applied Materials by 70.4% during the 1st quarter. Burney Co. now owns 171,427 shares of the manufacturing equipment provider’s stock worth $6,799,000 after acquiring an additional 70,811 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.
Several equities research analysts recently commented on the stock. Cowen lifted their price target on shares of Applied Materials from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Citigroup lifted their price target on shares of Applied Materials from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Co lifted their price target on shares of Applied Materials from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, June 4th. Finally, Nomura began coverage on shares of Applied Materials in a research note on Friday, June 7th. They issued a “neutral” rating and a $40.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Applied Materials has an average rating of “Buy” and an average price target of $51.43.
Shares of NASDAQ:AMAT traded down $0.08 during midday trading on Thursday, hitting $41.42. The stock had a trading volume of 244,661 shares, compared to its average volume of 10,045,954. The company has a market cap of $38.85 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.63 and a beta of 1.67. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a 1 year low of $28.79 and a 1 year high of $51.59.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.04. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.48 billion. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. On average, research analysts forecast that Applied Materials, Inc. will post 2.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s payout ratio is 18.88%.
In other news, insider Omkaram Nalamasu sold 143,255 shares of Applied Materials stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $40.73, for a total value of $5,834,776.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 2,000 shares of Applied Materials stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total transaction of $84,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,255 shares of company stock worth $6,987,176. Insiders own 0.44% of the company’s stock.
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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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