Alpha Cubed Investments LLC raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 266.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,286 shares of the manufacturing equipment provider’s stock after acquiring an additional 24,933 shares during the period. Alpha Cubed Investments LLC’s holdings in Applied Materials were worth $1,753,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Mosaic Family Wealth LLC boosted its holdings in Applied Materials by 56.1% during the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after acquiring an additional 984 shares during the period. Gabelli Funds LLC boosted its holdings in Applied Materials by 1.2% during the fourth quarter. Gabelli Funds LLC now owns 87,000 shares of the manufacturing equipment provider’s stock valued at $4,447,000 after acquiring an additional 1,000 shares during the period. Telemus Capital LLC boosted its holdings in Applied Materials by 9.2% during the third quarter. Telemus Capital LLC now owns 12,162 shares of the manufacturing equipment provider’s stock valued at $634,000 after acquiring an additional 1,020 shares during the period. CAPROCK Group Inc. boosted its holdings in Applied Materials by 13.9% during the third quarter. CAPROCK Group Inc. now owns 8,595 shares of the manufacturing equipment provider’s stock valued at $448,000 after acquiring an additional 1,046 shares during the period. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO boosted its holdings in Applied Materials by 1.8% during the third quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 59,482 shares of the manufacturing equipment provider’s stock valued at $3,098,000 after acquiring an additional 1,062 shares during the period. Institutional investors own 79.93% of the company’s stock.
A number of research firms have issued reports on AMAT. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 price target for the company in a report on Monday, November 20th. Zacks Investment Research cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. B. Riley restated a “buy” rating and set a $63.00 price target on shares of Applied Materials in a report on Monday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of Applied Materials to $70.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Finally, BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. One investment analyst has rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $63.88.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Applied Materials had a net margin of 27.14% and a return on equity of 51.26%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. analysts expect that Applied Materials, Inc. will post 4.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date is Wednesday, May 23rd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio is 11.14%.
Applied Materials announced that its board has authorized a stock buyback program on Wednesday, February 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, Director Stephen R. Forrest sold 4,000 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total value of $214,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ali Salehpour sold 125,125 shares of the stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Insiders sold 312,716 shares of company stock valued at $16,218,746 in the last three months. Company insiders own 0.35% of the company’s stock.
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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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