Van ECK Associates Corp lifted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 52.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 845,856 shares of the manufacturing equipment provider’s stock after purchasing an additional 289,871 shares during the period. Van ECK Associates Corp owned 0.08% of Applied Materials worth $44,061,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC purchased a new stake in shares of Applied Materials in the third quarter valued at approximately $105,000. MPS Loria Financial Planners LLC purchased a new stake in shares of Applied Materials in the second quarter valued at approximately $109,000. Wunderlich Capital Managemnt boosted its holdings in shares of Applied Materials by 2.9% in the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after purchasing an additional 87 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after purchasing an additional 1,817 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Applied Materials in the second quarter worth approximately $134,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.
A number of equities analysts recently commented on AMAT shares. Craig Hallum boosted their price objective on shares of Applied Materials to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Credit Suisse Group reissued a “buy” rating and issued a $62.00 price objective on shares of Applied Materials in a research note on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating on shares of Applied Materials in a research note on Sunday, October 1st. Needham & Company LLC boosted their price objective on shares of Applied Materials to $66.00 and gave the stock a “positive” rating in a research note on Friday, November 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Applied Materials in a research note on Sunday, August 20th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $60.85.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. equities research analysts anticipate that Applied Materials, Inc. will post 3.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s payout ratio is presently 12.62%.
In other news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.
About Applied Materials
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