Primecap Management Co. CA Has $524.15 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Primecap Management Co. CA lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,234,083 shares of the manufacturing equipment provider’s stock after selling 138,329 shares during the quarter. Primecap Management Co. CA owned 0.39% of Applied Materials worth $524,148,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC bought a new stake in Applied Materials during the 4th quarter worth about $27,000. Global Wealth Management Investment Advisory Inc. raised its position in shares of Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. L2 Asset Management LLC lifted its stake in Applied Materials by 795.0% in the third quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock valued at $41,000 after buying an additional 26,298 shares in the last quarter. First United Bank & Trust acquired a new position in Applied Materials in the 4th quarter worth $45,000. Finally, Tompkins Financial Corp bought a new position in shares of Applied Materials during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT traded up $2.94 during trading hours on Friday, reaching $220.89. 3,793,667 shares of the company were exchanged, compared to its average volume of 5,791,718. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $183.54 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.85 and a beta of 1.58. Applied Materials, Inc. has a 1 year low of $126.13 and a 1 year high of $225.07. The business’s 50 day simple moving average is $206.44 and its 200-day simple moving average is $181.66.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $2.00 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post 8.32 earnings per share for the current year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.72%. Applied Materials’s payout ratio is presently 18.39%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Raymond James increased their price objective on Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, May 17th. The Goldman Sachs Group upped their price target on shares of Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Susquehanna lifted their price objective on Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. increased their price target on shares of Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $260.00 target price on shares of Applied Materials in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.64.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.