CHICAGO TRUST Co NA increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 15.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,813 shares of the manufacturing equipment provider’s stock after purchasing an additional 243 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Applied Materials were worth $239,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. State Street Corp increased its position in shares of Applied Materials by 0.5% during the 4th quarter. State Street Corp now owns 39,984,883 shares of the manufacturing equipment provider’s stock worth $6,292,021,000 after purchasing an additional 183,501 shares during the last quarter. Capital World Investors grew its position in Applied Materials by 6.1% in the 4th quarter. Capital World Investors now owns 27,869,799 shares of the manufacturing equipment provider’s stock valued at $4,385,603,000 after acquiring an additional 1,609,461 shares in the last quarter. Capital International Investors grew its position in Applied Materials by 10.5% in the 4th quarter. Capital International Investors now owns 23,268,369 shares of the manufacturing equipment provider’s stock valued at $3,661,525,000 after acquiring an additional 2,209,223 shares in the last quarter. Geode Capital Management LLC grew its position in Applied Materials by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 17,016,315 shares of the manufacturing equipment provider’s stock valued at $2,671,813,000 after acquiring an additional 62,513 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Applied Materials by 14.5% in the 4th quarter. Deutsche Bank AG now owns 7,933,311 shares of the manufacturing equipment provider’s stock valued at $1,248,387,000 after acquiring an additional 1,003,013 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.
AMAT has been the subject of several research reports. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd. Susquehanna Bancshares dropped their target price on Applied Materials to $115.00 in a research report on Friday, May 20th. Citigroup decreased their price objective on Applied Materials from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, May 23rd. UBS Group decreased their price objective on Applied Materials from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. Finally, Piper Sandler decreased their price objective on Applied Materials from $153.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $154.81.
Applied Materials (NASDAQ:AMAT – Get Rating) last issued its quarterly earnings data on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.05). Applied Materials had a net margin of 27.20% and a return on equity of 57.17%. The firm had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Applied Materials’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Applied Materials, Inc. will post 7.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, August 24th. Applied Materials’s payout ratio is currently 13.87%.
Applied Materials declared that its board has initiated a share buyback plan on Friday, March 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is 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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