Bailard Inc. Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Bailard Inc. raised its position in shares of Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,338 shares of the manufacturing equipment provider’s stock after acquiring an additional 889 shares during the period. Bailard Inc.’s holdings in Applied Materials were worth $11,226,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AMAT. D Orazio & Associates Inc. purchased a new stake in shares of Applied Materials in the third quarter worth about $30,000. MV Capital Management Inc. boosted its position in shares of Applied Materials by 76.1% in the third quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock worth $30,000 after buying an additional 102 shares during the period. Fortis Advisors LLC purchased a new stake in shares of Applied Materials in the third quarter worth about $32,000. Hanson & Doremus Investment Management boosted its position in shares of Applied Materials by 1,538.5% in the fourth quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment provider’s stock worth $34,000 after buying an additional 200 shares during the period. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of Applied Materials in the fourth quarter worth about $35,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on the company. StockNews.com assumed coverage on Applied Materials in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Wednesday, January 19th. Piper Sandler cut their price target on Applied Materials from $158.00 to $153.00 and set a “neutral” rating on the stock in a research note on Thursday, February 17th. KeyCorp initiated coverage on Applied Materials in a research note on Tuesday, January 25th. They set a “sector weight” rating on the stock. Finally, Susquehanna restated a “hold” rating and set a $160.00 price objective on shares of Applied Materials in a research note on Monday, February 14th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $169.54.

Shares of NASDAQ:AMAT traded up $5.10 on Friday, reaching $111.86. 8,318,416 shares of the company traded hands, compared to its average volume of 7,450,329. Applied Materials, Inc. has a fifty-two week low of $102.99 and a fifty-two week high of $167.06. The company’s 50 day moving average is $121.19 and its 200-day moving average is $137.19. The stock has a market capitalization of $98.82 billion, a PE ratio of 15.56, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.51 and a quick ratio of 1.78.

Applied Materials (NASDAQ:AMATGet Rating) last announced its quarterly earnings data on Wednesday, February 16th. The manufacturing equipment provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Applied Materials had a return on equity of 55.62% and a net margin of 27.10%. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts expect that Applied Materials, Inc. will post 8.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, May 26th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.93%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.24. Applied Materials’s dividend payout ratio is presently 13.35%.

Applied Materials announced that its board has initiated a share buyback plan on Friday, March 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Applied Materials Company Profile (Get Rating)

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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