Lazard Asset Management LLC lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 0.9% during the first quarter, HoldingsChannel reports. The firm owned 4,480,562 shares of the manufacturing equipment provider’s stock after selling 41,580 shares during the quarter. Lazard Asset Management LLC’s holdings in Applied Materials were worth $177,698,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Norges Bank bought a new stake in shares of Applied Materials during the 4th quarter worth about $407,503,000. Oregon Public Employees Retirement Fund lifted its position in shares of Applied Materials by 3,039.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,203,498 shares of the manufacturing equipment provider’s stock worth $251,000 after purchasing an additional 7,942,210 shares during the last quarter. FMR LLC lifted its position in shares of Applied Materials by 52.1% during the 4th quarter. FMR LLC now owns 22,370,392 shares of the manufacturing equipment provider’s stock worth $732,406,000 after purchasing an additional 7,664,767 shares during the last quarter. Parnassus Investments CA lifted its position in shares of Applied Materials by 139.3% during the 4th quarter. Parnassus Investments CA now owns 6,700,000 shares of the manufacturing equipment provider’s stock worth $219,358,000 after purchasing an additional 3,900,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 purchasing an additional 2,772,739 shares during the last quarter. Institutional investors own 77.59% of the company’s stock.
In other news, SVP Steve G. Ghanayem sold 25,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total value of $1,067,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Omkaram Nalamasu sold 143,255 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $40.73, for a total value of $5,834,776.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,255 shares of company stock valued at $6,987,176. 0.44% of the stock is currently owned by insiders.
Applied Materials stock traded up $1.08 during trading hours on Tuesday, hitting $44.22. The stock had a trading volume of 199,685 shares, compared to its average volume of 9,991,311. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. The stock has a market cap of $38.86 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.66. Applied Materials, Inc. has a fifty-two week low of $28.79 and a fifty-two week high of $51.59.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, analysts expect that Applied Materials, Inc. will post 2.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. Applied Materials’s payout ratio is presently 18.88%.
AMAT has been the subject of several research analyst reports. Zacks Investment Research cut Applied Materials from a “hold” rating to a “sell” rating in a research report on Monday, February 11th. Argus reissued a “buy” rating on shares of Applied Materials in a research report on Tuesday, February 19th. B. Riley raised Applied Materials from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research report on Friday, May 17th. UBS Group boosted their price objective on Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Finally, ValuEngine raised Applied Materials from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $51.43.
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Applied Materials Company Profile
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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