Cookson Peirce & Co. Inc. cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 91,710 shares of the manufacturing equipment provider’s stock after selling 10,681 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Applied Materials were worth $4,688,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Applied Materials by 9.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock valued at $23,607,000 after purchasing an additional 38,960 shares during the period. Prudential Financial Inc. boosted its holdings in Applied Materials by 1.1% in the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after purchasing an additional 64,186 shares during the period. Elite Wealth Management Inc. purchased a new position in Applied Materials in the fourth quarter valued at $635,000. Janus Henderson Group PLC boosted its holdings in Applied Materials by 5.7% in the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after purchasing an additional 650,755 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Applied Materials by 25.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock valued at $2,547,000 after purchasing an additional 10,200 shares during the period. Hedge funds and other institutional investors own 79.93% of the company’s stock.
AMAT has been the subject of a number of recent research reports. Deutsche Bank lifted 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. Bank of America lifted their target price on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. B. Riley restated a “buy” rating and issued a $63.00 price target on shares of Applied Materials in a research note on Monday, November 13th. Royal Bank of Canada restated a “buy” rating on shares of Applied Materials in a research note on Friday, October 27th. Finally, Nomura restated a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. One investment analyst has rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.06.
Shares of Applied Materials, Inc. (AMAT) opened at $56.07 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62. Applied Materials, Inc. has a 52-week low of $35.55 and a 52-week high of $60.89. The company has a market capitalization of $59,037.70, a PE ratio of 21.16, a PEG ratio of 1.08 and a beta of 1.72.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. research analysts forecast that Applied Materials, Inc. will post 4.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s payout ratio is 15.09%.
Applied Materials announced that its board has approved a share buyback program on Wednesday, February 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
About Applied Materials
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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