BRYN MAWR TRUST Co increased its stake in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 227.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,172 shares of the manufacturing equipment provider’s stock after buying an additional 24,423 shares during the period. BRYN MAWR TRUST Co’s holdings in Applied Materials were worth $5,534,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. D Orazio & Associates Inc. bought a new position in Applied Materials in the third quarter worth about $30,000. MV Capital Management Inc. raised its stake in Applied Materials by 76.1% in the third quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock worth $30,000 after buying an additional 102 shares in the last quarter. Fortis Advisors LLC bought a new position in shares of Applied Materials during the third quarter valued at approximately $32,000. Hanson & Doremus Investment Management increased its stake in shares of Applied Materials by 1,538.5% during the fourth quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment provider’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Finally, Lowe Wealth Advisors LLC bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $35,000. 77.90% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Wednesday, January 19th. Stifel Nicolaus raised their target price on shares of Applied Materials from $190.00 to $197.00 in a research note on Thursday, April 7th. Susquehanna Bancshares reaffirmed a “hold” rating and set a $160.00 target price on shares of Applied Materials in a research note on Monday, February 14th. Needham & Company LLC raised their target price on shares of Applied Materials from $166.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, February 17th. Finally, UBS Group raised their price target on shares of Applied Materials from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, February 17th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $169.54.
Applied Materials (NASDAQ:AMAT – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The manufacturing equipment provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Applied Materials had a net margin of 27.10% and a return on equity of 55.62%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned $1.39 earnings per share. Sell-side analysts forecast that Applied Materials, Inc. will post 8.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, May 26th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.93%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, May 25th. Applied Materials’s dividend payout ratio is 13.35%.
Applied Materials declared that its board has initiated a stock buyback program on Friday, March 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
About Applied Materials (Get Rating)
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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