Blueshift Asset Management LLC bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,643 shares of the manufacturing equipment provider’s stock, valued at approximately $217,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Applied Materials by 13.6% during the 4th quarter. Bank of New York Mellon Corp now owns 23,108,959 shares of the manufacturing equipment provider’s stock worth $756,588,000 after buying an additional 2,772,739 shares during the last quarter. Capital World Investors lifted its holdings in Applied Materials by 154.9% during the 3rd quarter. Capital World Investors now owns 18,320,095 shares of the manufacturing equipment provider’s stock worth $708,072,000 after buying an additional 11,133,180 shares during the last quarter. FMR LLC lifted its holdings in Applied Materials by 85.2% during the 3rd quarter. FMR LLC now owns 14,705,625 shares of the manufacturing equipment provider’s stock worth $568,373,000 after buying an additional 6,766,709 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Applied Materials by 10.6% during the 3rd quarter. OppenheimerFunds Inc. now owns 8,943,691 shares of the manufacturing equipment provider’s stock worth $345,672,000 after buying an additional 853,704 shares during the last quarter. Finally, Capital International Investors purchased a new stake in Applied Materials during the 3rd quarter worth about $338,188,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.
A number of brokerages have issued reports on AMAT. Zacks Investment Research raised Applied Materials from a “sell” rating to a “hold” rating in a report on Monday, January 28th. BidaskClub downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Friday, March 1st. KeyCorp reaffirmed an “overweight” rating and set a $56.00 price target (down from $71.00) on shares of Applied Materials in a report on Friday, November 16th. Argus reaffirmed a “buy” rating on shares of Applied Materials in a report on Tuesday, February 19th. Finally, Summit Insights downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $50.53.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Applied Materials had a return on equity of 58.28% and a net margin of 23.50%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the business earned $1.06 EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. On average, equities research analysts expect that Applied Materials, Inc. will post 2.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be issued a $0.21 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s payout ratio is presently 17.98%.
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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