Foundry Partners LLC Has $18.40 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Foundry Partners LLC grew its stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 32.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,907 shares of the manufacturing equipment provider’s stock after acquiring an additional 32,830 shares during the quarter. Applied Materials accounts for 1.1% of Foundry Partners LLC’s holdings, making the stock its 18th biggest position. Foundry Partners LLC’s holdings in Applied Materials were worth $18,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of AMAT. BlackRock Inc. grew its stake in Applied Materials by 2.9% in 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 period. State Street Corp lifted its stake in Applied Materials by 0.8% in the first quarter. State Street Corp now owns 38,434,684 shares of the manufacturing equipment provider’s stock valued at $4,720,928,000 after buying an additional 301,010 shares in the last quarter. Capital World Investors boosted its holdings in shares of Applied Materials by 11.8% in the second quarter. Capital World Investors now owns 36,698,147 shares of the manufacturing equipment provider’s stock valued at $5,304,331,000 after buying an additional 3,865,159 shares during the period. Capital International Investors increased its position in shares of Applied Materials by 0.8% during the second quarter. Capital International Investors now owns 20,882,645 shares of the manufacturing equipment provider’s stock worth $3,018,370,000 after acquiring an additional 160,472 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,119,675 shares during the period. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Omkaram Nalamasu sold 23,228 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $162.45, for a total transaction of $3,773,388.60. Following the sale, the senior vice president now owns 190,972 shares of the company’s stock, valued at $31,023,401.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company’s stock.

Applied Materials Stock Performance

NASDAQ:AMAT traded up $1.42 during mid-day trading on Monday, hitting $187.26. 1,856,943 shares of the stock were exchanged, compared to its average volume of 6,174,144. The firm’s 50-day simple moving average is $160.18 and its 200 day simple moving average is $149.49. The stock has a market capitalization of $155.81 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 3.67 and a beta of 1.55. Applied Materials, Inc. has a fifty-two week low of $109.00 and a fifty-two week high of $187.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.82 and a current ratio of 2.60.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.14. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate 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 was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 earnings per share. As a group, equities analysts anticipate that Applied Materials, Inc. will post 7.61 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, February 21st. Applied Materials’s dividend payout ratio is currently 15.78%.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMAT shares. Redburn Atlantic upgraded Applied Materials from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a report on Wednesday, November 22nd. TD Cowen lifted their target price on Applied Materials from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Bank Of America (Bofa) upped their price target on Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. raised their price target on shares of Applied Materials from $165.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $180.00 price objective on shares of Applied Materials in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.92.

Read Our Latest Stock Analysis on Applied Materials

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.

See Also

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

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