Brandes Investment Partners LP Acquires 4,969 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Brandes Investment Partners LP boosted its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 399,108 shares of the manufacturing equipment provider’s stock after purchasing an additional 4,969 shares during the quarter. Brandes Investment Partners LP’s holdings in Applied Materials were worth $64,683,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMAT. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Applied Materials during the fourth quarter worth approximately $27,000. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Applied Materials by 76.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. L2 Asset Management LLC grew its holdings in shares of Applied Materials by 795.0% during the third quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock valued at $41,000 after buying an additional 26,298 shares during the last quarter. First United Bank & Trust acquired a new position in shares of Applied Materials during the fourth quarter valued at about $45,000. Finally, Tompkins Financial Corp bought a new stake in shares of Applied Materials during the fourth quarter worth about $49,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded up $7.87 during midday trading on Monday, hitting $219.95. The company’s stock had a trading volume of 5,951,700 shares, compared to its average volume of 5,838,419. The stock has a fifty day moving average price of $204.63 and a 200 day moving average price of $179.44. The firm has a market capitalization of $182.76 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 3.11 and a beta of 1.58. Applied Materials, Inc. has a one year low of $120.18 and a one year high of $221.75. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.12. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.00 earnings per share. On average, research analysts forecast that Applied Materials, Inc. will post 8.19 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s payout ratio is presently 14.71%.

Analyst Upgrades and Downgrades

AMAT has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price target on Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Raymond James lifted their target price on Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America increased their price target on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Friday. Evercore ISI initiated coverage on shares of Applied Materials in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Applied Materials from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.64.

Read Our Latest Research Report on AMAT

About Applied Materials

(Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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