Arizona State Retirement System Raises Stake in Applied Materials, Inc. (AMAT)

Arizona State Retirement System raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.0% during the first quarter, Holdings Channel reports. The fund owned 267,282 shares of the manufacturing equipment provider’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in Applied Materials were worth $10,397,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Applied Materials by 24.2% in the fourth quarter. AQR Capital Management LLC now owns 17,399,598 shares of the manufacturing equipment provider’s stock worth $561,485,000 after buying an additional 3,392,749 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Applied Materials by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock worth $501,248,000 after buying an additional 3,191,737 shares during the last quarter. Egerton Capital UK LLP acquired a new position in shares of Applied Materials during the first quarter worth about $452,897,000. Bank of Montreal Can increased its position in shares of Applied Materials by 14.5% in the first quarter. Bank of Montreal Can now owns 10,297,620 shares of the manufacturing equipment provider’s stock worth $400,579,000 after buying an additional 1,302,973 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Applied Materials during the fourth quarter worth about $306,251,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.34 on Friday. The stock has a market cap of $46.57 billion, a PE ratio of 17.92 and a beta of 1.81. Applied Materials, Inc. has a 52-week low of $22.17 and a 52-week high of $47.86. The company’s 50 day moving average price is $44.26 and its 200 day moving average price is $38.08.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the business earned $0.34 EPS. Applied Materials’s quarterly revenue was up 44.7% on a year-over-year basis. On average, analysts anticipate that Applied Materials, Inc. will post $3.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.92%. Applied Materials’s dividend payout ratio (DPR) is currently 16.46%.

WARNING: This article was posted by Mideast Time and is the sole property of of Mideast Time. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.mideasttime.com/arizona-state-retirement-system-raises-stake-in-applied-materials-inc-amat/1804656.html.

AMAT has been the topic of a number of research analyst reports. Stifel Nicolaus upped their price target on Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a report on Sunday, May 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Applied Materials in a report on Friday, May 19th. Instinet reaffirmed a “buy” rating and set a $47.00 price target (up from $40.00) on shares of Applied Materials in a report on Sunday, May 21st. Needham & Company LLC upped their price target on Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a report on Sunday, May 21st. Finally, B. Riley reaffirmed a “buy” rating and set a $44.00 price target on shares of Applied Materials in a report on Monday, May 15th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $44.89.

Applied Materials Company Profile

new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AMAT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.