Robeco Institutional Asset Management B.V. raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 52.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,825,947 shares of the manufacturing equipment provider’s stock after purchasing an additional 625,034 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Applied Materials were worth $91,116,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Greenleaf Trust increased its position in Applied Materials by 8.5% during the second quarter. Greenleaf Trust now owns 15,309 shares of the manufacturing equipment provider’s stock worth $688,000 after purchasing an additional 1,201 shares during the last quarter. Coastal Investment Advisors Inc. grew its stake in Applied Materials by 82.9% during the second quarter. Coastal Investment Advisors Inc. now owns 2,304 shares of the manufacturing equipment provider’s stock worth $103,000 after buying an additional 1,044 shares during the period. Hartford Financial Management Inc. grew its stake in Applied Materials by 0.6% during the second quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock worth $1,926,000 after buying an additional 248 shares during the period. Nvwm LLC grew its stake in Applied Materials by 28.0% during the second quarter. Nvwm LLC now owns 17,597 shares of the manufacturing equipment provider’s stock worth $790,000 after buying an additional 3,844 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Applied Materials during the second quarter worth approximately $19,389,000. 78.88% of the stock is owned by hedge funds and other institutional investors.
In other Applied Materials news, Director Dennis D. Powell sold 25,218 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total transaction of $1,297,213.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. Insiders sold 53,945 shares of company stock valued at $2,776,105 over the last 90 days. Insiders own 0.44% of the company’s stock.
Shares of AMAT stock traded down $0.44 on Friday, hitting $51.70. The stock had a trading volume of 533,118 shares, compared to its average volume of 6,692,170. The firm has a market capitalization of $48.88 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 3.53 and a beta of 1.65. The stock’s 50 day moving average is $50.42 and its 200-day moving average is $45.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. Applied Materials, Inc. has a 52-week low of $28.79 and a 52-week high of $53.25.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. Equities analysts expect that Applied Materials, Inc. will post 3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 annualized dividend and a dividend yield of 1.62%. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.
Several equities research analysts have issued reports on AMAT shares. Morgan Stanley boosted their price objective on shares of Applied Materials from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. DA Davidson downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $45.00 in a research note on Monday, July 8th. B. Riley set a $54.00 price objective on shares of Applied Materials and gave the stock a “buy” rating in a research note on Friday, August 16th. Nomura set a $40.00 price objective on shares of Applied Materials and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, BidaskClub upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Applied Materials has an average rating of “Buy” and a consensus price target of $52.10.
Applied Materials 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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