Canandaigua National Bank & Trust Co. bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,055 shares of the manufacturing equipment provider’s stock, valued at approximately $310,000.
Several other large investors also recently bought and sold shares of AMAT. Macquarie Group Ltd. lifted its position in shares of Applied Materials by 128.8% during the second quarter. Macquarie Group Ltd. now owns 251,054 shares of the manufacturing equipment provider’s stock worth $10,372,000 after acquiring an additional 141,350 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Applied Materials during the second quarter worth $134,000. IHT Wealth Management LLC lifted its position in shares of Applied Materials by 67.8% during the second quarter. IHT Wealth Management LLC now owns 3,344 shares of the manufacturing equipment provider’s stock worth $148,000 after acquiring an additional 1,351 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Applied Materials by 2.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 62,115 shares of the manufacturing equipment provider’s stock worth $2,566,000 after acquiring an additional 1,646 shares in the last quarter. Finally, Albion Financial Group UT lifted its position in shares of Applied Materials by 0.8% during the second quarter. Albion Financial Group UT now owns 16,534 shares of the manufacturing equipment provider’s stock worth $683,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 80.07% of the company’s stock.
Several research firms have issued reports on AMAT. ValuEngine upgraded Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $57.92 target price on the stock. in a research report on Thursday, February 1st. BidaskClub downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. B. Riley reaffirmed a “buy” rating and issued a $71.00 price target on shares of Applied Materials in a report on Tuesday, January 16th. Finally, Susquehanna Bancshares raised shares of Applied Materials from a “neutral” rating to a “positive” rating and upped their price target for the stock from $60.00 to $72.00 in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $62.56.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. equities analysts forecast that Applied Materials, Inc. will post 4.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 21st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. Applied Materials’s dividend payout ratio is presently 12.62%.
In related news, VP Omkaram Nalamasu sold 53,466 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total value of $2,833,698.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 312,716 shares of company stock worth $16,218,746. 0.35% of the stock is owned by insiders.
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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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