Sit Investment Associates Inc. lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 698,335 shares of the manufacturing equipment provider’s stock after selling 112,180 shares during the quarter. Applied Materials comprises 0.9% of Sit Investment Associates Inc.’s portfolio, making the stock its 29th largest position. Sit Investment Associates Inc. owned approximately 0.07% of Applied Materials worth $35,699,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Applied Materials by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock worth $3,101,736,000 after buying an additional 1,721,964 shares in the last quarter. State Street Corp grew its holdings in Applied Materials by 2.1% in the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock worth $2,019,939,000 after buying an additional 985,296 shares in the last quarter. Capital Research Global Investors grew its holdings in Applied Materials by 14.8% in the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock worth $732,213,000 after buying an additional 2,284,836 shares in the last quarter. Egerton Capital UK LLP grew its holdings in Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after buying an additional 3,184,994 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in Applied Materials by 7.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 13,751,324 shares of the manufacturing equipment provider’s stock worth $568,067,000 after buying an additional 973,818 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.
In other news, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total value of $2,833,698.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen R. Forrest sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 312,716 shares of company stock valued at $16,218,746 in the last ninety days. Company insiders own 0.31% of the company’s stock.
A number of equities analysts have issued reports on the company. B. Riley raised their price objective on Applied Materials from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. Instinet restated a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Applied Materials in a report on Saturday, September 30th. UBS Group upgraded Applied Materials from a “neutral” rating to a “positive” rating in a report on Tuesday. Craig Hallum restated a “buy” rating and issued a $76.00 target price (up previously from $60.00) on shares of Applied Materials in a report on Thursday, September 28th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Applied Materials in a report on Sunday, October 1st. One analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $62.74.
Applied Materials, Inc. (AMAT) traded up $2.50 during trading hours on Wednesday, hitting $57.00. 12,061,617 shares of the stock were exchanged, compared to its average volume of 11,599,380. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. Applied Materials, Inc. has a 52 week low of $33.09 and a 52 week high of $60.89. The company has a market capitalization of $60,070.00, a PE ratio of 17.98, a P/E/G ratio of 1.05 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the company posted $0.66 EPS. Applied Materials’s revenue was up 20.4% on a year-over-year basis. analysts anticipate that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, February 20th. Applied Materials’s dividend payout ratio is presently 12.62%.
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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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