Shell Asset Management Co. lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,301 shares of the manufacturing equipment provider’s stock after selling 15,836 shares during the period. Shell Asset Management Co.’s holdings in Applied Materials were worth $7,666,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in Applied Materials in the 4th quarter valued at about $27,000. Wealth Quarterback LLC acquired a new position in Applied Materials during the 4th quarter worth approximately $28,000. Altshuler Shaham Ltd increased its position in Applied Materials by 7,516.7% during the 4th quarter. Altshuler Shaham Ltd now owns 457 shares of the manufacturing equipment provider’s stock worth $28,000 after purchasing an additional 451 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new position in Applied Materials during the 4th quarter worth approximately $29,000. Finally, Cedar Wealth Management LLC acquired a new position in Applied Materials during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.88% of the company’s stock.
Shares of AMAT stock traded down $0.63 during trading hours on Friday, hitting $54.39. 6,875,460 shares of the company were exchanged, compared to its average volume of 9,922,808. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.89 and a current ratio of 2.67. The business’s 50-day simple moving average is $50.51 and its two-hundred day simple moving average is $56.21. Applied Materials, Inc. has a one year low of $36.64 and a one year high of $69.44. The stock has a market capitalization of $50.53 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.06 and a beta of 1.38.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the business earned $0.70 EPS. As a group, analysts anticipate that Applied Materials, Inc. will post 3.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st will be issued a $0.22 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. This is a boost from Applied Materials’s previous quarterly dividend of $0.21. Applied Materials’s dividend payout ratio (DPR) is currently 28.95%.
Several equities analysts have issued reports on AMAT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of Applied Materials in a research report on Thursday, February 13th. Credit Suisse Group boosted their target price on Applied Materials from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Cowen boosted their target price on Applied Materials from $60.00 to $72.00 in a research report on Friday, May 15th. Craig Hallum reiterated a “buy” rating and set a $79.00 target price (up previously from $70.00) on shares of Applied Materials in a research report on Thursday, February 13th. Finally, BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.35.
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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