Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by L2 Asset Management LLC

L2 Asset Management LLC grew its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 795.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,606 shares of the manufacturing equipment provider’s stock after purchasing an additional 26,298 shares during the period. L2 Asset Management LLC’s holdings in Applied Materials were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Applied Materials by 2.9% during the second quarter. BlackRock Inc. now owns 71,782,658 shares of the manufacturing equipment provider’s stock valued at $10,375,465,000 after acquiring an additional 2,033,896 shares during the last quarter. State Street Corp boosted its position in shares of Applied Materials by 0.8% during the 1st quarter. State Street Corp now owns 38,434,684 shares of the manufacturing equipment provider’s stock worth $4,720,928,000 after purchasing an additional 301,010 shares during the period. Capital World Investors increased its holdings in Applied Materials by 11.8% in the 2nd quarter. Capital World Investors now owns 36,698,147 shares of the manufacturing equipment provider’s stock valued at $5,304,331,000 after purchasing an additional 3,865,159 shares during the last quarter. Capital International Investors raised its position in Applied Materials by 0.8% in the second quarter. Capital International Investors now owns 20,882,645 shares of the manufacturing equipment provider’s stock valued at $3,018,370,000 after purchasing an additional 160,472 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Applied Materials by 7.1% during the second quarter. Geode Capital Management LLC now owns 16,991,062 shares of the manufacturing equipment provider’s stock worth $2,449,796,000 after purchasing an additional 1,119,675 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Up 0.7 %

Shares of Applied Materials stock opened at $168.18 on Monday. The company has a 50-day moving average of $157.77 and a two-hundred day moving average of $148.21. The stock has a market cap of $139.94 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 3.35 and a beta of 1.55. The company has a current ratio of 2.60, a quick ratio of 1.82 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12-month low of $109.00 and a 12-month high of $178.40.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.14. Applied Materials had a return on equity of 46.12% and a net margin of 25.85%. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the previous year, the business earned $2.03 earnings per share. Applied Materials’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that Applied Materials, Inc. will post 7.56 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 22nd will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 0.76%. Applied Materials’s dividend payout ratio is currently 15.78%.

Analyst Ratings Changes

Several research firms recently issued reports on AMAT. Needham & Company LLC reissued a “buy” rating and set a $180.00 target price on shares of Applied Materials in a research note on Friday, November 17th. Raymond James raised their price target on shares of Applied Materials from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. TD Cowen upped their price objective on Applied Materials from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Barclays lifted their target price on Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. Finally, Redburn Atlantic raised shares of Applied Materials from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $167.92.

Get Our Latest Stock Analysis on Applied Materials

Insider Activity at Applied Materials

In other news, SVP Omkaram Nalamasu sold 23,228 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $162.45, for a total value of $3,773,388.60. Following the completion of the transaction, the senior vice president now directly owns 190,972 shares of the company’s stock, valued at $31,023,401.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Applied Materials Company Profile

(Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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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