Capital Growth Management LP Purchases Shares of 770,000 Applied Materials, Inc. (AMAT)

Capital Growth Management LP purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 770,000 shares of the manufacturing equipment provider’s stock, valued at approximately $31,809,000. Applied Materials makes up about 1.5% of Capital Growth Management LP’s investment portfolio, making the stock its 29th largest holding. Capital Growth Management LP owned 0.07% of Applied Materials as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMAT. BlackRock Inc. increased its stake in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after purchasing an additional 63,912,660 shares in the last quarter. Egerton Capital UK LLP bought a new stake in Applied Materials in the first quarter valued at $452,897,000. FMR LLC increased its stake in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after purchasing an additional 4,604,275 shares in the last quarter. Swedbank bought a new stake in Applied Materials in the second quarter valued at $135,363,000. Finally, Ameriprise Financial Inc. increased its position in shares of Applied Materials by 32.9% during the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock worth $501,248,000 after acquiring an additional 3,191,737 shares in the last quarter. 79.47% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

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Applied Materials, Inc. (NASDAQ:AMAT) traded up 0.468% during mid-day trading on Tuesday, hitting $48.275. 4,586,012 shares of the stock traded hands. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 17.161 and a beta of 1.81. The company’s 50 day moving average price is $44.39 and its 200-day moving average price is $42.74. Applied Materials, Inc. has a 1-year low of $27.56 and a 1-year high of $48.53.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. Analysts predict that Applied Materials, Inc. will post $3.20 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s payout ratio is presently 14.18%.

AMAT has been the subject of several recent research reports. Credit Suisse Group reissued a “buy” rating on shares of Applied Materials in a research report on Tuesday, August 29th. Vetr raised shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price for the company in a research report on Thursday, June 29th. Stifel Nicolaus reissued a “buy” rating and set a $55.00 target price on shares of Applied Materials in a research report on Thursday, July 6th. Morgan Stanley reissued an “overweight” rating and set a $52.00 target price on shares of Applied Materials in a research report on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Applied Materials from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $52.00 in a research report on Wednesday, September 13th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $51.86.

About Applied Materials

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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