Great Lakes Advisors LLC Grows Position in Applied Materials, Inc. (NASDAQ:AMAT)

Great Lakes Advisors LLC grew its stake in shares of Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 39.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,508 shares of the manufacturing equipment provider’s stock after purchasing an additional 11,980 shares during the quarter. Great Lakes Advisors LLC’s holdings in Applied Materials were worth $5,603,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Applied Materials by 0.5% during the fourth quarter. State Street Corp now owns 39,984,883 shares of the manufacturing equipment provider’s stock valued at $6,292,021,000 after purchasing an additional 183,501 shares during the period. Capital World Investors lifted its stake in Applied Materials by 6.1% in the fourth quarter. Capital World Investors now owns 27,869,799 shares of the manufacturing equipment provider’s stock worth $4,385,603,000 after acquiring an additional 1,609,461 shares during the period. Capital International Investors lifted its stake in Applied Materials by 10.5% in the fourth quarter. Capital International Investors now owns 23,268,369 shares of the manufacturing equipment provider’s stock worth $3,661,525,000 after acquiring an additional 2,209,223 shares during the period. Geode Capital Management LLC lifted its stake in Applied Materials by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 17,016,315 shares of the manufacturing equipment provider’s stock worth $2,671,813,000 after acquiring an additional 62,513 shares during the period. Finally, Deutsche Bank AG lifted its stake in Applied Materials by 14.5% in the fourth quarter. Deutsche Bank AG now owns 7,933,311 shares of the manufacturing equipment provider’s stock worth $1,248,387,000 after acquiring an additional 1,003,013 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMAT shares. Barclays dropped their price target on Applied Materials from $125.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, July 25th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. DA Davidson dropped their price target on Applied Materials from $185.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 20th. Bank of America dropped their price target on Applied Materials from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, The Goldman Sachs Group dropped their price target on Applied Materials from $133.00 to $95.00 in a research note on Friday, July 15th. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $146.04.

Applied Materials Price Performance

NASDAQ AMAT opened at $109.62 on Friday. Applied Materials, Inc. has a one year low of $82.67 and a one year high of $167.06. The stock has a 50-day moving average of $99.70 and a 200 day moving average of $116.53. The company has a market capitalization of $95.36 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.80 and a beta of 1.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.54 and a current ratio of 2.29.

Applied Materials (NASDAQ:AMATGet Rating) last released its quarterly earnings data on Thursday, May 19th. The manufacturing equipment provider reported $1.85 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.04). Applied Materials had a return on equity of 57.17% and a net margin of 27.20%. The business had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. Applied Materials’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that Applied Materials, Inc. will post 7.42 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be given a $0.26 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $1.04 annualized dividend and a yield of 0.95%. Applied Materials’s payout ratio is 13.87%.

Insiders Place Their Bets

In other Applied Materials news, SVP Teri A. Little sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $86.30, for a total value of $1,294,500.00. Following the transaction, the senior vice president now directly owns 93,169 shares of the company’s stock, valued at $8,040,484.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

About Applied Materials

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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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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