First Manhattan Co. lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 16,884 shares of the manufacturing equipment provider’s stock after selling 283 shares during the period. First Manhattan Co.’s holdings in Applied Materials were worth $552,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of 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 valued at $708,072,000 after buying an additional 11,133,180 shares during the last quarter. Capital International Investors bought a new stake in shares of Applied Materials during the 3rd quarter valued at about $338,188,000. FMR LLC grew its position in shares of Applied Materials by 85.2% during the 3rd quarter. FMR LLC now owns 14,705,625 shares of the manufacturing equipment provider’s stock valued at $568,373,000 after buying an additional 6,766,709 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Applied Materials by 47.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,336,220 shares of the manufacturing equipment provider’s stock valued at $785,997,000 after buying an additional 6,531,516 shares during the last quarter. Finally, Global Thematic Partners LLC bought a new stake in shares of Applied Materials during the 3rd quarter valued at about $105,571,000. 78.31% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on AMAT. Zacks Investment Research raised shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. ValuEngine downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank of Canada raised shares of Applied Materials from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $38.00 to $45.00 in a research report on Tuesday, January 29th. BidaskClub raised shares of Applied Materials from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, Craig Hallum lowered their price objective on shares of Applied Materials from $65.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, November 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. Applied Materials currently has an average rating of “Buy” and a consensus price target of $51.41.
Shares of NASDAQ:AMAT opened at $39.12 on Wednesday. The company has a market capitalization of $37.07 billion, a PE ratio of 8.79, a P/E/G ratio of 1.33 and a beta of 1.69. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $62.40. The company has a quick ratio of 1.73, a current ratio of 2.64 and a debt-to-equity ratio of 0.78.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4 billion. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. Equities analysts forecast that Applied Materials, Inc. will post 3.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 21st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, February 20th. Applied Materials’s dividend payout ratio is currently 17.98%.
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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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