Applied Materials, Inc. (AMAT) Holdings Increased by State of Tennessee Treasury Department
State of Tennessee Treasury Department grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 11.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,949,651 shares of the manufacturing equipment provider’s stock after purchasing an additional 200,010 shares during the period. State of Tennessee Treasury Department owned about 0.19% of Applied Materials worth $99,666,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC bought a new position in Applied Materials during the third quarter worth about $105,000. Cerebellum GP LLC bought a new position in shares of Applied Materials in the fourth quarter valued at approximately $122,000. First Personal Financial Services boosted its position in shares of Applied Materials by 281.5% in the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after acquiring an additional 1,900 shares during the period. Zions Bancorporation boosted its position in shares of Applied Materials by 349.1% in the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after acquiring an additional 2,049 shares during the period. Finally, Mosaic Family Wealth LLC boosted its position in shares of Applied Materials by 56.1% in the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after acquiring an additional 984 shares during the period. Institutional investors own 79.30% of the company’s stock.
Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at $60.28 on Friday. Applied Materials, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $62.40. The company has a quick ratio of 2.25, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. The stock has a market cap of $63,340.00, a P/E ratio of 16.79, a P/E/G ratio of 1.13 and a beta of 1.58.
Applied Materials announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.33%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio is presently 11.14%.
In other news, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the completion of the transaction, the director now directly owns 76,967 shares in the company, valued at approximately $4,731,161.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The disclosure for this sale can be found here. Insiders sold a total of 322,716 shares of company stock valued at $16,850,796 over the last 90 days. 0.35% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on AMAT shares. Vetr lowered shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price for the company. in a research report on Tuesday, November 21st. Nomura reiterated a “buy” rating and set a $65.00 target price (up from $55.00) on shares of Applied Materials in a research report on Tuesday, November 21st. Credit Suisse Group lifted their price target on shares of Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Royal Bank of Canada lifted their price target on shares of Applied Materials from $55.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Finally, Deutsche Bank lifted their price target on shares of Applied Materials from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Twenty-six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus target price of $64.10.
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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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