California Public Employees Retirement System raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,795,387 shares of the manufacturing equipment provider’s stock after buying an additional 57,811 shares during the quarter. California Public Employees Retirement System’s holdings in Applied Materials were worth $142,900,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Egerton Capital UK LLP boosted its position in shares of Applied Materials by 23.2% during the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after purchasing an additional 3,184,994 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Applied Materials by 5.7% during the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after purchasing an additional 650,755 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Applied Materials by 2.2% during the third quarter. Epoch Investment Partners Inc. now owns 10,859,674 shares of the manufacturing equipment provider’s stock valued at $565,681,000 after purchasing an additional 235,793 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Applied Materials by 1.1% during the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after purchasing an additional 64,186 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Applied Materials by 2.5% during the third quarter. Legal & General Group Plc now owns 5,651,969 shares of the manufacturing equipment provider’s stock valued at $294,389,000 after purchasing an additional 135,447 shares in the last quarter. Hedge funds and other institutional investors own 80.07% 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 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 Securities & Exchange Commission, which is available at this link. Also, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The stock was 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. Insiders have sold 312,716 shares of company stock valued at $16,218,746 in the last quarter. 0.35% of the stock is owned by company insiders.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion during 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 quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. equities research analysts forecast that Applied Materials, Inc. will post 4.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Tuesday, February 20th. Applied Materials’s payout ratio is 12.62%.
AMAT has been the topic of several research reports. Nomura restated a “buy” rating and set a $65.00 price target (up from $55.00) on shares of Applied Materials in a research report on Tuesday, November 21st. Citigroup lifted their price target on Applied Materials from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 price target on the stock in a research report on Monday, November 20th. Bank of America lifted their price target on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, B. Riley restated a “buy” rating and set a $63.00 price target on shares of Applied Materials in a research report on Monday, November 13th. One analyst has rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $62.56.
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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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