Noked Israel Ltd cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 41.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,590 shares of the manufacturing equipment provider’s stock after selling 145,860 shares during the period. Applied Materials makes up 8.0% of Noked Israel Ltd’s holdings, making the stock its 4th biggest holding. Noked Israel Ltd’s holdings in Applied Materials were worth $32,666,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Vulcan Value Partners LLC grew its position in Applied Materials by 97.5% in the 3rd quarter. Vulcan Value Partners LLC now owns 6,067,153 shares of the manufacturing equipment provider’s stock worth $781,025,000 after purchasing an additional 2,995,539 shares in the last quarter. Geode Capital Management LLC grew its position in Applied Materials by 13.1% in the 3rd 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Applied Materials by 371.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,289,490 shares of the manufacturing equipment provider’s stock worth $294,726,000 after purchasing an additional 1,803,466 shares in the last quarter. Morgan Stanley grew its position in Applied Materials by 36.1% in the 2nd quarter. Morgan Stanley now owns 5,498,783 shares of the manufacturing equipment provider’s stock worth $783,027,000 after purchasing an additional 1,458,640 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Applied Materials by 213.9% in 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. 77.90% of the stock is owned by institutional investors.
A number of brokerages have issued reports on AMAT. UBS Group reduced their price objective on shares of Applied Materials from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday. Stifel Nicolaus upped their price objective on shares of Applied Materials from $190.00 to $197.00 in a research report on Thursday, April 7th. Susquehanna reiterated a “hold” rating and issued a $160.00 target price on shares of Applied Materials in a research note on Monday, February 14th. Barclays dropped their target price on shares of Applied Materials from $150.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, DA Davidson dropped their target price on shares of Applied Materials from $185.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $156.62.
Applied Materials (NASDAQ:AMAT – Get Rating) last posted its earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.05). The firm had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.35 billion. Applied Materials had a return on equity of 56.59% and a net margin of 27.20%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 8.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, May 26th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, May 25th. This is a positive change from Applied Materials’s previous quarterly dividend of $0.24. Applied Materials’s dividend payout ratio is 12.80%.
Applied Materials announced that its board has authorized a share buyback program on Friday, March 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to reacquire up to 5.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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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