Bailard Inc. Acquires 889 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Bailard Inc. raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 71,338 shares of the manufacturing equipment provider’s stock after acquiring an additional 889 shares during the period. Bailard Inc.’s holdings in Applied Materials were worth $11,226,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Vulcan Value Partners LLC lifted its holdings in Applied Materials by 97.5% during the third quarter. Vulcan Value Partners LLC now owns 6,067,153 shares of the manufacturing equipment provider’s stock worth $781,025,000 after acquiring an additional 2,995,539 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Applied Materials by 13.1% during the third quarter. Geode Capital Management LLC now owns 16,953,802 shares of the manufacturing equipment provider’s stock worth $2,177,497,000 after purchasing an additional 1,958,477 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Applied Materials by 371.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,289,490 shares of the manufacturing equipment provider’s stock valued at $294,726,000 after purchasing an additional 1,803,466 shares in the last quarter. Morgan Stanley grew its position in shares of Applied Materials by 36.1% in the 2nd quarter. Morgan Stanley now owns 5,498,783 shares of the manufacturing equipment provider’s stock valued at $783,027,000 after purchasing an additional 1,458,640 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Applied Materials by 213.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,519,026 shares of the manufacturing equipment provider’s stock worth $239,034,000 after purchasing an additional 1,035,037 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

A number of analysts recently issued reports on the company. Mizuho increased their target price on Applied Materials from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, February 17th. UBS Group increased their target price on Applied Materials from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, February 17th. StockNews.com assumed coverage on Applied Materials in a research note on Thursday, March 31st. They set a “buy” rating for the company. Wells Fargo & Company lowered their target price on Applied Materials from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, April 18th. Finally, Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Wednesday, January 19th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $169.54.

Shares of NASDAQ AMAT traded up $5.10 during trading hours on Friday, hitting $111.86. The company had a trading volume of 8,318,416 shares, compared to its average volume of 7,450,329. The stock has a market capitalization of $98.82 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The company has a quick ratio of 1.78, a current ratio of 2.51 and a debt-to-equity ratio of 0.46. Applied Materials, Inc. has a 1-year low of $102.99 and a 1-year high of $167.06. The firm’s 50 day moving average is $121.19 and its 200-day moving average is $137.19.

Applied Materials (NASDAQ:AMATGet Rating) last released its quarterly earnings data on Wednesday, February 16th. The manufacturing equipment provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Applied Materials had a return on equity of 55.62% and a net margin of 27.10%. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that Applied Materials, Inc. will post 8.02 earnings per share for the current year.

Applied Materials announced that its Board of Directors has initiated a stock repurchase plan on Friday, March 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to buy up to 5.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, May 26th will be issued a dividend of $0.26 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, May 25th. This represents a $1.04 annualized dividend and a yield of 0.93%. Applied Materials’s dividend payout ratio (DPR) is currently 13.35%.

Applied Materials Company Profile (Get Rating)

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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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