American International Group Inc. boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 496,130 shares of the manufacturing equipment provider’s stock after buying an additional 7,496 shares during the period. American International Group Inc.’s holdings in Applied Materials were worth $25,362,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Applied Materials in the third quarter valued at approximately $8,336,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Applied Materials by 3.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 755,249 shares of the manufacturing equipment provider’s stock valued at $39,338,000 after purchasing an additional 23,411 shares during the last quarter. Inverness Counsel LLC NY raised its holdings in shares of Applied Materials by 60.0% in the third quarter. Inverness Counsel LLC NY now owns 491,820 shares of the manufacturing equipment provider’s stock valued at $25,619,000 after purchasing an additional 184,505 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID acquired a new stake in shares of Applied Materials in the third quarter valued at approximately $209,000. Finally, Mathes Company Inc. acquired a new stake in shares of Applied Materials in the third quarter valued at approximately $1,613,000. Hedge funds and other institutional investors own 79.30% of the company’s stock.
Applied Materials, Inc. (NASDAQ AMAT) opened at $55.03 on Monday. The company has a quick ratio of 2.43, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. Applied Materials, Inc. has a 52 week low of $34.72 and a 52 week high of $60.89. The firm has a market cap of $57,980.00, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.04 and a beta of 1.72.
Applied Materials declared that its board has approved a share buyback program on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s payout ratio is 11.14%.
In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of Applied Materials stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 312,716 shares of company stock valued at $16,218,746. Company insiders own 0.35% of the company’s stock.
A number of analysts have recently issued reports on the stock. Deutsche Bank lifted their price objective on shares of Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp lifted their price objective on shares of Applied Materials from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus lifted their price objective on shares of Applied Materials from $66.00 to $71.00 and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group lifted their price objective on shares of Applied Materials from $72.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Zacks Investment Research downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and an average price target of $63.84.
Applied Materials Company Profile
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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