Canada Pension Plan Investment Board Increases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Canada Pension Plan Investment Board grew its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 23.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 203,913 shares of the manufacturing equipment provider’s stock after acquiring an additional 39,127 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Applied Materials were worth $28,232,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Financial Freedom LLC bought a new stake in Applied Materials in the fourth quarter worth about $25,000. Mcmillion Capital Management Inc. purchased a new stake in shares of Applied Materials in the second quarter worth approximately $29,000. CGC Financial Services LLC bought a new stake in shares of Applied Materials during the 2nd quarter worth approximately $29,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Finally, BluePath Capital Management LLC bought a new position in Applied Materials in the 3rd quarter valued at $39,000. Institutional investors own 77.24% of the company’s stock.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, SVP Omkaram Nalamasu sold 23,228 shares of Applied Materials stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $162.45, for a total transaction of $3,773,388.60. Following the transaction, the senior vice president now directly owns 190,972 shares of the company’s stock, valued at $31,023,401.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMAT has been the subject of several research analyst reports. Morgan Stanley boosted their target price on shares of Applied Materials from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. Mizuho boosted their price objective on shares of Applied Materials from $162.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 target price on shares of Applied Materials in a research report on Friday, November 17th. Bank Of America (Bofa) boosted their price target on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, TD Cowen raised their price objective on Applied Materials from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $167.92.

Get Our Latest Report on Applied Materials

Applied Materials Stock Up 6.9 %

Shares of AMAT stock opened at $185.84 on Friday. The stock’s fifty day moving average price is $160.18 and its 200 day moving average price is $149.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.60 and a quick ratio of 1.82. Applied Materials, Inc. has a 1-year low of $109.00 and a 1-year high of $186.15. The company has a market cap of $154.63 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 3.44 and a beta of 1.55.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.14. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Applied Materials had a return on equity of 46.12% and a net margin of 25.85%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. On average, research analysts expect that Applied Materials, Inc. will post 7.61 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 22nd will be given a $0.32 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.69%. Applied Materials’s dividend payout ratio (DPR) is presently 15.78%.

Applied Materials 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.

See Also

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

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