Kiwi Wealth Investments Limited Partnership boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 12.4% during the first quarter, HoldingsChannel.com reports. The firm owned 250,400 shares of the manufacturing equipment provider’s stock after acquiring an additional 27,551 shares during the quarter. Applied Materials comprises about 1.4% of Kiwi Wealth Investments Limited Partnership’s portfolio, making the stock its 17th largest holding. Kiwi Wealth Investments Limited Partnership’s holdings in Applied Materials were worth $13,925,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. STA Wealth Management LLC grew its holdings in Applied Materials by 48.8% in the first quarter. STA Wealth Management LLC now owns 23,372 shares of the manufacturing equipment provider’s stock worth $1,300,000 after purchasing an additional 7,663 shares during the period. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Applied Materials in the first quarter worth about $209,000. Amundi Pioneer Asset Management Inc. grew its holdings in Applied Materials by 11.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 852,167 shares of the manufacturing equipment provider’s stock worth $47,390,000 after purchasing an additional 85,484 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in Applied Materials in the first quarter worth about $495,000. Finally, Mariner LLC grew its holdings in Applied Materials by 58.9% in the first quarter. Mariner LLC now owns 15,687 shares of the manufacturing equipment provider’s stock worth $872,000 after purchasing an additional 5,814 shares during the period. Institutional investors and hedge funds own 78.74% of the company’s stock.
A number of equities research analysts have weighed in on AMAT shares. Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, February 19th. Vetr cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.08 price objective on the stock. in a report on Tuesday, April 17th. Bank of America started coverage on shares of Applied Materials in a report on Wednesday, March 21st. They issued a “buy” rating and a $80.00 price objective on the stock. Needham & Company LLC cut their price objective on shares of Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Monday, May 21st. Finally, Credit Suisse Group upped their price objective on shares of Applied Materials from $72.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and an average target price of $64.20.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.08. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.45 billion. Applied Materials had a net margin of 19.24% and a return on equity of 51.65%. During the same quarter in the prior year, the firm earned $0.79 earnings per share. equities analysts predict that Applied Materials, Inc. will post 4.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.59%. Applied Materials’s dividend payout ratio (DPR) is 24.62%.
Applied Materials declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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