Van ECK Associates Corp lifted its position in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,655,308 shares of the manufacturing equipment provider’s stock after purchasing an additional 84,130 shares during the quarter. Applied Materials accounts for approximately 1.4% of Van ECK Associates Corp’s holdings, making the stock its 12th biggest holding. Van ECK Associates Corp owned approximately 0.82% of Applied Materials worth $1,082,353,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in AMAT. EdgePoint Investment Group Inc. boosted its holdings in shares of Applied Materials by 341.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock worth $577,288,000 after acquiring an additional 2,209,218 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Applied Materials by 67.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock valued at $942,187,000 after purchasing an additional 1,884,153 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Applied Materials by 262.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after purchasing an additional 1,006,937 shares during the last quarter. Alkeon Capital Management LLC boosted its stake in Applied Materials by 87.7% in the third quarter. Alkeon Capital Management LLC now owns 1,877,133 shares of the manufacturing equipment provider’s stock worth $379,275,000 after purchasing an additional 877,133 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Applied Materials by 5.5% during the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock worth $3,316,269,000 after purchasing an additional 858,122 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.
Applied Materials Stock Performance
Shares of AMAT stock opened at $180.89 on Thursday. The stock has a market cap of $147.01 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. The stock has a 50-day moving average of $175.20 and a 200-day moving average of $184.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89.
Applied Materials Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Sanford C. Bernstein lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Evercore ISI reduced their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. TD Cowen decreased their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Susquehanna boosted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.00.
Read Our Latest Report on AMAT
About Applied Materials
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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