Enterprise Financial Services Corp raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 310.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,115 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,600 shares during the quarter. Enterprise Financial Services Corp’s holdings in Applied Materials were worth $83,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Applied Materials by 13.6% in the fourth quarter. Bank of New York Mellon Corp now owns 23,108,959 shares of the manufacturing equipment provider’s stock valued at $756,588,000 after purchasing an additional 2,772,739 shares during the period. FMR LLC increased its stake in shares of Applied Materials by 52.1% during the fourth quarter. FMR LLC now owns 22,370,392 shares of the manufacturing equipment provider’s stock worth $732,406,000 after acquiring an additional 7,664,767 shares during the period. Geode Capital Management LLC increased its stake in shares of Applied Materials by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock worth $459,453,000 after acquiring an additional 794,347 shares during the period. Norges Bank acquired a new position in shares of Applied Materials during the fourth quarter worth about $407,503,000. Finally, Northern Trust Corp increased its stake in shares of Applied Materials by 3.5% during the fourth quarter. Northern Trust Corp now owns 12,008,825 shares of the manufacturing equipment provider’s stock worth $393,169,000 after acquiring an additional 405,659 shares during the period. Institutional investors own 78.26% of the company’s stock.
AMAT stock traded down $0.78 during trading on Wednesday, reaching $40.49. 5,439,278 shares of the company were exchanged, compared to its average volume of 10,464,394. The company has a market cap of $38.44 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.79 and a beta of 1.66. Applied Materials, Inc. has a 52-week low of $28.79 and a 52-week high of $53.23. The company has a current ratio of 2.72, a quick ratio of 1.74 and a debt-to-equity ratio of 0.65.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 49.38%. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis. On average, equities research analysts expect that Applied Materials, Inc. will post 2.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s dividend payout ratio is 17.98%.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Applied Materials in a research note on Sunday. Citigroup boosted their price target on shares of Applied Materials from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Co boosted their price target on shares of Applied Materials from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Finally, UBS Group boosted their price target on shares of Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. Applied Materials has a consensus rating of “Buy” and a consensus price target of $52.57.
In other Applied Materials news, Director Stephen R. Forrest sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Omkaram Nalamasu sold 143,255 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $40.73, for a total transaction of $5,834,776.15. The disclosure for this sale can be found here. Insiders sold 170,255 shares of company stock worth $6,987,176 in the last ninety days. Insiders own 0.44% of the company’s stock.
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About Applied Materials
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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