Appleton Partners Inc. MA trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 26.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,425 shares of the manufacturing equipment provider’s stock after selling 2,975 shares during the period. Appleton Partners Inc. MA’s holdings in Applied Materials were worth $334,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AMAT. Norges Bank bought a new position in Applied Materials in the 4th quarter valued at $407,503,000. Oregon Public Employees Retirement Fund raised 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 valued at $251,000 after buying an additional 7,942,210 shares in the last quarter. FMR LLC raised 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 valued at $732,406,000 after buying an additional 7,664,767 shares in the last quarter. Bank of New York Mellon Corp raised 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 in the last quarter. Finally, Parnassus Investments CA raised 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 valued at $219,358,000 after buying an additional 3,900,000 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.
In other Applied Materials news, insider Omkaram Nalamasu sold 143,255 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $40.73, for a total value of $5,834,776.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Steve G. Ghanayem sold 25,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total transaction of $1,067,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,255 shares of company stock worth $6,987,176. 0.44% of the stock is owned by corporate insiders.
Several analysts have recently weighed in on AMAT shares. Needham & Company LLC started coverage on shares of Applied Materials in a research report on Friday, December 21st. They set a “buy” rating and a $45.00 price objective on the stock. ValuEngine upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Stifel Nicolaus set a $63.00 price objective on shares of Applied Materials and gave the company a “buy” rating in a research report on Tuesday, January 8th. Zacks Investment Research cut shares of Applied Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Finally, Royal Bank of Canada upgraded shares of Applied Materials from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $38.00 to $45.00 in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Applied Materials presently has a consensus rating of “Buy” and an average target price of $49.90.
Shares of NASDAQ:AMAT opened at $43.95 on Friday. The firm has a market capitalization of $41.73 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.69 and a beta of 1.64. Applied Materials, Inc. has a 52 week low of $28.79 and a 52 week high of $56.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.74 and a current ratio of 2.72.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 14th. The manufacturing equipment provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Applied Materials had a net margin of 23.50% and a return on equity of 58.28%. The firm’s revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. As a group, equities analysts forecast that Applied Materials, Inc. will post 2.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s dividend payout ratio (DPR) 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.
Further Reading: Quiet Period
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