Brandywine Global Investment Management LLC raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 68.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 366,893 shares of the manufacturing equipment provider’s stock after acquiring an additional 149,059 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Applied Materials were worth $30,060,000 as of its most recent filing with the SEC.
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A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Applied Materials by 44.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 481,752 shares of the manufacturing equipment provider’s stock worth $39,470,000 after buying an additional 147,727 shares during the last quarter. Cantor Fitzgerald L. P. raised its stake in shares of Applied Materials by 48.4% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 92,274 shares of the manufacturing equipment provider’s stock worth $7,515,000 after buying an additional 30,100 shares during the last quarter. Capital International Ltd. CA raised its stake in shares of Applied Materials by 17.9% during the 3rd quarter. Capital International Ltd. CA now owns 105,985 shares of the manufacturing equipment provider’s stock worth $8,683,000 after buying an additional 16,053 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of Applied Materials by 55.0% during the 3rd quarter. Carolinas Wealth Consulting LLC now owns 372 shares of the manufacturing equipment provider’s stock worth $30,000 after buying an additional 132 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of Applied Materials by 10.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 5,647 shares of the manufacturing equipment provider’s stock worth $463,000 after buying an additional 546 shares during the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.
Applied Materials Trading Up 4.9 %
AMAT traded up $5.46 during trading on Tuesday, reaching $117.53. 1,913,501 shares of the company’s stock were exchanged, compared to its average volume of 6,074,681. The company’s fifty day moving average price is $109.33 and its 200-day moving average price is $100.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.47 and a current ratio of 2.31. The firm has a market capitalization of $99.33 billion, a PE ratio of 15.02, a P/E/G ratio of 2.85 and a beta of 1.59. Applied Materials, Inc. has a fifty-two week low of $71.12 and a fifty-two week high of $142.01.
Applied Materials (NASDAQ:AMAT – Get Rating) last issued its earnings results on Thursday, February 16th. The manufacturing equipment provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.10. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Applied Materials had a return on equity of 55.08% and a net margin of 24.57%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. As a group, equities analysts forecast that Applied Materials, Inc. will post 6.98 EPS for the current year.
Applied Materials Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Thursday, February 23rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, February 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 13.94%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on AMAT shares. Wells Fargo & Company lifted their price target on Applied Materials from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 17th. B. Riley lifted their price objective on Applied Materials from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Sanford C. Bernstein lifted their price objective on Applied Materials to $130.00 in a research report on Monday, November 21st. Morgan Stanley lifted their price objective on Applied Materials from $88.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. Finally, Citigroup dropped their target price on Applied Materials from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, November 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.16.
Insider Activity at Applied Materials
In related news, Director Xun Chen sold 377 shares of the firm’s stock in a transaction on Friday, January 20th. The shares were sold at an average price of $107.80, for a total transaction of $40,640.60. Following the sale, the director now directly owns 39,868 shares in the company, valued at $4,297,770.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the semiconductor, display and related industries. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.
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