Victory Capital Management Inc. raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 40.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 905,060 shares of the manufacturing equipment provider’s stock after buying an additional 258,972 shares during the period. Victory Capital Management Inc.’s holdings in Applied Materials were worth $52,484,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of AMAT. Northwest Investment Counselors LLC acquired a new stake in shares of Applied Materials in the third quarter valued at $29,000. Cedar Wealth Management LLC bought a new position in shares of Applied Materials in the fourth quarter valued at about $34,000. Horan Capital Advisors LLC. acquired a new position in Applied Materials during the 3rd quarter worth about $39,000. Investors Research Corp lifted its position in Applied Materials by 54.0% during the 3rd quarter. Investors Research Corp now owns 844 shares of the manufacturing equipment provider’s stock worth $42,000 after buying an additional 296 shares in the last quarter. Finally, Citizens Financial Group Inc RI grew its holdings in Applied Materials by 94.1% during the 3rd quarter. Citizens Financial Group Inc RI now owns 920 shares of the manufacturing equipment provider’s stock worth $46,000 after acquiring an additional 446 shares during the last quarter. Institutional investors own 79.81% of the company’s stock.
NASDAQ:AMAT traded up $0.04 during mid-day trading on Friday, hitting $67.41. The company had a trading volume of 300,232 shares, compared to its average volume of 7,004,624. Applied Materials, Inc. has a fifty-two week low of $36.80 and a fifty-two week high of $65.68. The business’s fifty day moving average is $61.78 and its two-hundred day moving average is $55.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.30. The firm has a market cap of $57.80 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.01 and a beta of 1.64.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, February 18th. Applied Materials’s dividend payout ratio is currently 27.63%.
In other news, Director Stephen R. Forrest sold 3,000 shares of Applied Materials stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.86, for a total transaction of $188,580.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Prabu G. Raja sold 50,000 shares of Applied Materials stock in a transaction on Monday, December 16th. The stock was sold at an average price of $60.73, for a total transaction of $3,036,500.00. The disclosure for this sale can be found here. Insiders sold 1,053,000 shares of company stock valued at $64,335,080 in the last ninety days. Insiders own 0.41% of the company’s stock.
Several research firms have weighed in on AMAT. Zacks Investment Research cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Tuesday, January 21st. UBS Group upped their target price on shares of Applied Materials from $48.00 to $51.00 and gave the stock a “sell” rating in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Applied Materials in a research note on Thursday. Cowen upped their price objective on Applied Materials from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Credit Suisse Group increased their price objective on Applied Materials from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company. Applied Materials has a consensus rating of “Buy” and an average price target of $71.04.
Applied Materials Company 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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