Intact Investment Management Inc. grew its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 115.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 71,600 shares of the manufacturing equipment provider’s stock after buying an additional 38,300 shares during the quarter. Intact Investment Management Inc.’s holdings in Applied Materials were worth $4,370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in AMAT. Thrivent Financial for Lutherans lifted its holdings in Applied Materials by 0.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 42,104 shares of the manufacturing equipment provider’s stock worth $2,570,000 after buying an additional 151 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Applied Materials by 1.9% in the 4th quarter. Wedbush Securities Inc. now owns 8,679 shares of the manufacturing equipment provider’s stock valued at $530,000 after purchasing an additional 159 shares in the last quarter. Cerebellum GP LLC raised its stake in shares of Applied Materials by 1.9% in the 4th quarter. Cerebellum GP LLC now owns 9,041 shares of the manufacturing equipment provider’s stock valued at $552,000 after purchasing an additional 172 shares in the last quarter. Optimum Investment Advisors raised its stake in shares of Applied Materials by 4.8% in the 4th quarter. Optimum Investment Advisors now owns 4,400 shares of the manufacturing equipment provider’s stock valued at $269,000 after purchasing an additional 200 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in shares of Applied Materials by 2.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 8,464 shares of the manufacturing equipment provider’s stock valued at $517,000 after purchasing an additional 209 shares in the last quarter. 80.81% of the stock is owned by institutional investors.
In other news, Director Stephen R. Forrest sold 2,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $67.40, for a total value of $134,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.
A number of brokerages have recently issued reports on AMAT. Cfra upped their target price on shares of Applied Materials from $60.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Credit Suisse Group upped their target price on shares of Applied Materials from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. ICAP upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Deutsche Bank decreased their target price on shares of Applied Materials from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.38.
Shares of Applied Materials stock traded up $2.23 on Thursday, hitting $46.96. The company had a trading volume of 1,024,753 shares, compared to its average volume of 13,379,143. The business has a 50-day simple moving average of $56.79 and a 200-day simple moving average of $56.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.36 and a quick ratio of 1.60. The company has a market cap of $41.45 billion, a PE ratio of 15.55, a PEG ratio of 1.10 and a beta of 1.48. Applied Materials, Inc. has a 52 week low of $36.64 and a 52 week high of $69.44.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Applied Materials had a net margin of 18.83% and a return on equity of 36.15%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. On average, equities research analysts predict that Applied Materials, Inc. will post 4.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This is a boost from Applied Materials’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.87%. Applied Materials’s dividend payout ratio (DPR) is 27.63%.
About Applied Materials
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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