Rhumbline Advisers Grows Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Rhumbline Advisers boosted its position in Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 0.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,534,272 shares of the manufacturing equipment provider’s stock after purchasing an additional 6,207 shares during the period. Rhumbline Advisers’ holdings in Applied Materials were worth $241,433,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMAT. Kestra Private Wealth Services LLC boosted its holdings in shares of Applied Materials by 7.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,847 shares of the manufacturing equipment provider’s stock valued at $1,864,000 after purchasing an additional 786 shares during the last quarter. MUFG Securities EMEA plc boosted its holdings in shares of Applied Materials by 210.6% in the 3rd quarter. MUFG Securities EMEA plc now owns 19,121 shares of the manufacturing equipment provider’s stock valued at $2,461,000 after purchasing an additional 12,965 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Applied Materials by 2.1% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 229,250 shares of the manufacturing equipment provider’s stock valued at $36,075,000 after purchasing an additional 4,679 shares during the last quarter. LVM Capital Management Ltd. MI boosted its holdings in shares of Applied Materials by 6.3% in the 4th quarter. LVM Capital Management Ltd. MI now owns 70,910 shares of the manufacturing equipment provider’s stock valued at $11,158,000 after purchasing an additional 4,220 shares during the last quarter. Finally, Symphony Financial Ltd. Co. boosted its holdings in shares of Applied Materials by 182.2% in the 4th quarter. Symphony Financial Ltd. Co. now owns 9,912 shares of the manufacturing equipment provider’s stock valued at $1,585,000 after purchasing an additional 6,400 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Shares of AMAT traded up $5.10 during midday trading 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 company’s 50 day moving average price is $121.19 and its 200 day moving average price is $137.19. The stock has a market cap of $98.82 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.28 and a beta of 1.44. Applied Materials, Inc. has a 52 week low of $102.99 and a 52 week high of $167.06. 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 (NASDAQ:AMATGet Rating) last released its earnings results on Wednesday, February 16th. The manufacturing equipment provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Applied Materials had a net margin of 27.10% and a return on equity of 55.62%. 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 previous year, the firm earned $1.39 EPS. The company’s revenue was up 21.5% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 8.02 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has authorized a share 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 often an indication that the company’s leadership believes its shares are undervalued.

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

Several equities analysts recently weighed in on the stock. B. Riley reduced their target price on shares of Applied Materials from $195.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, February 14th. Citigroup lifted their target price on shares of Applied Materials from $178.00 to $180.00 in a report on Thursday, February 17th. Piper Sandler reduced their target price on shares of Applied Materials from $158.00 to $153.00 and set a “neutral” rating on the stock in a report on Thursday, February 17th. Berenberg Bank lifted their target price on shares of Applied Materials from $160.00 to $205.00 in a report on Tuesday, January 18th. Finally, Needham & Company LLC lifted their target price on shares of Applied Materials from $166.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 17th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $169.54.

About Applied Materials (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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