Cape Cod Five Cents Savings Bank increased its stake in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 27.1% in the fourth quarter, Holdings Channel reports. The firm owned 3,783 shares of the manufacturing equipment provider’s stock after purchasing an additional 806 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Applied Materials were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management lifted its stake in Applied Materials by 1,538.5% during the 4th quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment provider’s stock valued at $34,000 after acquiring an additional 200 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Applied Materials during the 4th quarter valued at approximately $35,000. Lowe Wealth Advisors LLC acquired a new stake in Applied Materials during the 4th quarter valued at approximately $35,000. D Orazio & Associates Inc. acquired a new stake in Applied Materials during the 3rd quarter valued at approximately $30,000. Finally, MV Capital Management Inc. lifted its stake in Applied Materials by 76.1% during the 3rd quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock valued at $30,000 after acquiring an additional 102 shares during the period. Institutional investors own 77.90% of the company’s stock.
Applied Materials stock traded up $2.91 during midday trading on Thursday, reaching $106.83. The company had a trading volume of 577,587 shares, compared to its average volume of 8,514,064. The company has a market capitalization of $94.37 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.39 and a beta of 1.44. Applied Materials, Inc. has a 12-month low of $103.61 and a 12-month high of $167.06. The firm’s fifty day simple moving average is $121.71 and its 200-day simple moving average is $137.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.51 and a quick ratio of 1.78.
Applied Materials declared that its board has authorized a share buyback program on Friday, March 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to purchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, May 26th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, May 25th. Applied Materials’s dividend payout ratio (DPR) is 13.35%.
Several analysts have commented on AMAT shares. StockNews.com started coverage on shares of Applied Materials in a research note on Thursday, March 31st. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Applied Materials from $180.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 13th. Susquehanna Bancshares reiterated a “hold” rating and issued a $160.00 target price on shares of Applied Materials in a research note on Monday, February 14th. KeyCorp started coverage on shares of Applied Materials in a research note on Tuesday, January 25th. They issued a “sector weight” rating for the company. Finally, Berenberg Bank boosted their target price on shares of Applied Materials from $160.00 to $205.00 in a research note on Tuesday, January 18th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $169.54.
About Applied Materials (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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