Advisory Services Network LLC Has $1.84 Million Stake in Applied Materials, Inc. (AMAT)
Advisory Services Network LLC lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.0% in the 4th quarter, Holdings Channel reports. The firm owned 35,948 shares of the manufacturing equipment provider’s stock after selling 4,437 shares during the quarter. Advisory Services Network LLC’s holdings in Applied Materials were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. Global X Management Co. LLC raised its stake in shares of Applied Materials by 10.8% during the fourth quarter. Global X Management Co. LLC now owns 13,344 shares of the manufacturing equipment provider’s stock worth $682,000 after purchasing an additional 1,297 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Applied Materials by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,359,089 shares of the manufacturing equipment provider’s stock worth $273,955,000 after acquiring an additional 921,821 shares during the period. First Trust Advisors LP grew its holdings in Applied Materials by 8.4% during the fourth quarter. First Trust Advisors LP now owns 2,376,391 shares of the manufacturing equipment provider’s stock worth $121,481,000 after acquiring an additional 183,210 shares during the period. Cetera Investment Advisers grew its holdings in Applied Materials by 23.6% during the fourth quarter. Cetera Investment Advisers now owns 6,194 shares of the manufacturing equipment provider’s stock worth $315,000 after acquiring an additional 1,181 shares during the period. Finally, Cetera Advisors LLC grew its holdings in Applied Materials by 32.8% during the fourth quarter. Cetera Advisors LLC now owns 9,549 shares of the manufacturing equipment provider’s stock worth $487,000 after acquiring an additional 2,361 shares during the period. Institutional investors and hedge funds own 79.30% of the company’s stock.
Several analysts have weighed in on the company. Vetr lowered Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price on the stock. in a report on Tuesday, November 21st. Nomura reissued a “buy” rating and issued a $65.00 target price (up previously from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Credit Suisse Group upped their target price on Applied Materials from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, November 17th. Royal Bank of Canada upped their target price on Applied Materials from $55.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 17th. Finally, Deutsche Bank upped their target price on Applied Materials from $58.00 to $65.00 and gave the company a “buy” rating in a report on Friday, November 17th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $62.56.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. During the same period in the prior year, the business posted $0.67 EPS. equities research analysts anticipate that Applied Materials, Inc. will post 4.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is 12.62%.
In other news, Director Stephen R. Forrest sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total value of $2,833,698.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 312,716 shares of company stock worth $16,218,746. Company insiders own 0.35% of the company’s stock.
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Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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