Elkfork Partners LLC purchased a new stake in shares of Applied Materials (NASDAQ:AMAT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 882,672 shares of the manufacturing equipment provider’s stock, valued at approximately $45,123,000. Applied Materials comprises approximately 1.6% of Elkfork Partners LLC’s holdings, making the stock its 9th biggest position. Elkfork Partners LLC owned 0.08% of Applied Materials as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $110,000. Risk Paradigm Group LLC purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $110,000. Cerebellum GP LLC purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $122,000. Zions Bancorporation grew its holdings in shares of Applied Materials by 349.1% during the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after buying an additional 2,049 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $169,000. Hedge funds and other institutional investors own 79.28% of the company’s stock.
A number of equities research analysts have recently commented on AMAT shares. Zacks Investment Research cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $61.64 price target on the stock in a report on Monday, November 27th. Wells Fargo initiated coverage on shares of Applied Materials in a report on Tuesday, December 5th. They set an “outperform” rating and a $65.00 price target on the stock. BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Needham & Company LLC upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and raised their target price for the stock from $66.00 to $72.00 in a report on Monday, January 8th. Twenty-five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and an average target price of $64.41.
Applied Materials (NASDAQ AMAT) opened at $58.96 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25. Applied Materials has a 52-week low of $37.41 and a 52-week high of $62.40. The firm has a market cap of $63,860.75, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 1.15 and a beta of 1.58.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the firm earned $0.67 earnings per share. sell-side analysts predict that Applied Materials will post 4.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be given a $0.20 dividend. The ex-dividend date is Wednesday, May 23rd. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.36%. Applied Materials’s dividend payout ratio (DPR) is presently 15.09%.
Applied Materials announced that its Board of Directors has approved a stock buyback plan 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 repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Applied Materials Profile
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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