CAPROCK Group Inc. Lowers Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

CAPROCK Group Inc. trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,845 shares of the manufacturing equipment provider’s stock after selling 585 shares during the quarter. CAPROCK Group Inc.’s holdings in Applied Materials were worth $1,166,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. State Street Corp raised its position in shares of Applied Materials by 0.5% in the fourth quarter. State Street Corp now owns 39,984,883 shares of the manufacturing equipment provider’s stock worth $6,292,021,000 after acquiring an additional 183,501 shares during the period. Capital World Investors raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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. 77.90% of the stock is currently owned by institutional investors.

Applied Materials stock opened at $93.94 on Thursday. The firm has a market cap of $81.72 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.43 and a beta of 1.43. Applied Materials, Inc. has a 52-week low of $87.62 and a 52-week high of $167.06. The company has a quick ratio of 1.54, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $109.38 and its two-hundred day moving average is $129.13.

Applied Materials (NASDAQ:AMATGet Rating) last announced 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 analyst estimates of $6.35 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. Applied Materials’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Materials, Inc. will post 7.49 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has approved a stock buyback program on Friday, March 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 25th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, August 24th. This represents a $1.04 annualized dividend and a yield of 1.11%. Applied Materials’s dividend payout ratio is currently 13.87%.

AMAT has been the subject of several research analyst reports. Needham & Company LLC reduced their price target on shares of Applied Materials from $172.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Wells Fargo & Company reduced their price target on shares of Applied Materials from $180.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. DA Davidson reduced their price target on shares of Applied Materials from $185.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Craig Hallum reduced their price target on shares of Applied Materials from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Applied Materials from $174.00 to $158.00 in a report on Friday, May 20th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $154.81.

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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