Toroso Investments LLC acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,606 shares of the manufacturing equipment provider’s stock, valued at approximately $211,000.
Several other large investors have also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $27,000. Wealth Quarterback LLC bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $28,000. Altshuler Shaham Ltd increased its stake in shares of Applied Materials by 7,516.7% during the fourth quarter. Altshuler Shaham Ltd now owns 457 shares of the manufacturing equipment provider’s stock valued at $28,000 after purchasing an additional 451 shares in the last quarter. Raab & Moskowitz Asset Management LLC bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $29,000. Finally, Cedar Wealth Management LLC bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $34,000. 80.88% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on AMAT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Applied Materials in a research note on Thursday, February 13th. Deutsche Bank cut their price target on shares of Applied Materials from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Goldman Sachs Group cut shares of Applied Materials from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 24th. BidaskClub upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Tuesday, May 12th. Finally, B. Riley upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $72.00 in a report on Friday, May 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and an average target price of $67.35.
Shares of AMAT stock opened at $54.39 on Friday. Applied Materials, Inc. has a 12-month low of $36.64 and a 12-month high of $69.44. The company has a current ratio of 2.67, a quick ratio of 1.89 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $50.51 and its 200 day moving average is $56.21. The stock has a market capitalization of $50.53 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.06 and a beta of 1.38.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.02). The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, equities analysts predict that Applied Materials, Inc. will post 3.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, May 20th. This is a boost from Applied Materials’s previous quarterly dividend of $0.21. Applied Materials’s dividend payout ratio (DPR) is currently 28.95%.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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