American Money Management LLC increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 28.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,165 shares of the manufacturing equipment provider’s stock after buying an additional 4,040 shares during the quarter. American Money Management LLC’s holdings in Applied Materials were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new stake in Applied Materials in the 4th quarter worth approximately $110,000. Risk Paradigm Group LLC bought a new stake in Applied Materials in the fourth quarter valued at approximately $110,000. Shine Investment Advisory Services Inc. lifted its position in Applied Materials by 368.3% in the first quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock valued at $114,000 after purchasing an additional 1,617 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in Applied Materials by 957.8% in the fourth quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock valued at $122,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Optimum Investment Advisors bought a new stake in Applied Materials in the first quarter valued at approximately $147,000. Institutional investors own 78.74% of the company’s stock.
AMAT stock traded down $1.29 during midday trading on Thursday, hitting $49.69. The stock had a trading volume of 16,416,228 shares, compared to its average volume of 14,596,269. The stock has a market cap of $50.29 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.84 and a beta of 1.64. Applied Materials, Inc. has a 52-week low of $40.79 and a 52-week high of $62.40. The company has a quick ratio of 1.83, a current ratio of 2.60 and a debt-to-equity ratio of 0.75.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.08. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. equities research analysts expect that Applied Materials, Inc. will post 4.57 earnings per share for the current fiscal year.
Applied Materials announced that its board has approved a stock buyback program on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 23rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is 24.62%.
Several analysts have weighed in on AMAT shares. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, February 19th. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.08 price objective for the company. in a research report on Tuesday, April 17th. Bank of America started coverage on Applied Materials in a research report on Wednesday, March 21st. They issued a “buy” rating and a $80.00 price objective for the company. Needham & Company LLC lowered their price objective on Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Monday, May 21st. Finally, Credit Suisse Group boosted their price objective on Applied Materials from $72.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.20.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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