Honkamp Krueger Financial Services Inc. trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 53.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,677 shares of the manufacturing equipment provider’s stock after selling 11,230 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Applied Materials were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Applied Materials by 1.8% in the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after purchasing an additional 1,248,388 shares during the period. Egerton Capital UK LLP raised its holdings in Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after purchasing an additional 3,184,994 shares during the period. Janus Henderson Group PLC raised its holdings in Applied Materials by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after purchasing an additional 650,755 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Applied Materials by 10.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock worth $568,507,000 after purchasing an additional 1,033,700 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in Applied Materials by 2.2% in the 3rd quarter. Epoch Investment Partners Inc. now owns 10,859,674 shares of the manufacturing equipment provider’s stock worth $565,681,000 after purchasing an additional 235,793 shares during the period. 79.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. KeyCorp raised their target price on Applied Materials from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Deutsche Bank raised their target price on Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday. Vetr cut Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price on the stock. in a report on Tuesday, November 21st. Finally, Nomura reaffirmed a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. One analyst has rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.88.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same quarter last year, the business posted $0.67 earnings per share. sell-side analysts forecast that Applied Materials, Inc. will post 4.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be given a dividend of $0.20 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. Applied Materials’s dividend payout ratio (DPR) is presently 11.14%.
Applied Materials declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Ali Salehpour sold 125,125 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated 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 90 days, insiders have sold 312,716 shares of company stock valued at $16,218,746. Company insiders own 0.35% of the company’s stock.
Applied Materials Company Profile
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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