Norinchukin Bank The lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,292 shares of the manufacturing equipment provider’s stock after acquiring an additional 4,360 shares during the period. Norinchukin Bank The’s holdings in Applied Materials were worth $11,395,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC lifted its position in Applied Materials by 42.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after buying an additional 88 shares during the period. Curi Capital purchased a new position in Applied Materials during the fourth quarter worth about $31,000. GPS Wealth Strategies Group LLC purchased a new position in Applied Materials during the first quarter worth about $33,000. Syverson Strege & Co purchased a new position in Applied Materials during the first quarter worth about $39,000. Finally, Baystate Wealth Management LLC lifted its position in Applied Materials by 404.8% during the first quarter. Baystate Wealth Management LLC now owns 313 shares of the manufacturing equipment provider’s stock worth $42,000 after buying an additional 251 shares during the period. 78.39% of the stock is currently owned by institutional investors and hedge funds.
In other Applied Materials news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total transaction of $1,979,250.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gary E. Dickerson sold 105,184 shares of Applied Materials stock in a transaction on Friday, April 9th. The shares were sold at an average price of $140.00, for a total value of $14,725,760.00. The disclosure for this sale can be found here. Insiders have sold a total of 321,443 shares of company stock worth $44,694,744 in the last ninety days. 0.37% of the stock is owned by company insiders.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, May 19th. The manufacturing equipment provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.12. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.40 billion. Applied Materials had a return on equity of 45.08% and a net margin of 22.35%. The business’s revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. Equities research analysts forecast that Applied Materials, Inc. will post 6.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, May 27th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, May 26th. This represents a $0.96 annualized dividend and a yield of 0.70%. This is an increase from Applied Materials’s previous quarterly dividend of $0.22. Applied Materials’s payout ratio is presently 23.02%.
A number of research firms have recently commented on AMAT. Morgan Stanley raised their price objective on Applied Materials from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Monday, May 24th. Wells Fargo & Company raised their price objective on Applied Materials from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, April 7th. Susquehanna raised their price objective on Applied Materials from $155.00 to $170.00 and gave the stock a “positive” rating in a report on Friday, May 21st. Cowen raised their price objective on Applied Materials from $140.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, April 7th. Finally, Bank of America raised their price objective on Applied Materials from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 23rd. Two investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Applied Materials currently has an average rating of “Buy” and a consensus target price of $153.58.
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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