Shayne & Jacobs LLC Purchases New Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Shayne & Jacobs LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) during the 3rd quarter, Holdings Channel reports. The firm bought 26,105 shares of the manufacturing equipment provider’s stock, valued at approximately $3,614,000. Applied Materials comprises 1.2% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pathstone Family Office LLC lifted its stake in shares of Applied Materials by 110.8% in the 3rd quarter. Pathstone Family Office LLC now owns 82,882 shares of the manufacturing equipment provider’s stock worth $11,627,000 after purchasing an additional 43,559 shares during the period. Pine Valley Investments Ltd Liability Co lifted its stake in shares of Applied Materials by 15.9% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 24,392 shares of the manufacturing equipment provider’s stock worth $3,377,000 after purchasing an additional 3,341 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Applied Materials by 31.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 5,446 shares of the manufacturing equipment provider’s stock worth $754,000 after purchasing an additional 1,316 shares during the period. Tealwood Asset Management Inc. lifted its stake in shares of Applied Materials by 2.0% in the 3rd quarter. Tealwood Asset Management Inc. now owns 10,713 shares of the manufacturing equipment provider’s stock worth $1,483,000 after purchasing an additional 208 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Applied Materials by 7.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 73,176 shares of the manufacturing equipment provider’s stock worth $10,131,000 after purchasing an additional 4,986 shares during the period. Institutional investors own 77.24% of the company’s stock.

Applied Materials Trading Down 1.3 %

Shares of NASDAQ:AMAT traded down $2.20 on Tuesday, hitting $168.89. 2,617,777 shares of the company’s stock were exchanged, compared to its average volume of 6,143,688. Applied Materials, Inc. has a 12 month low of $109.00 and a 12 month high of $178.40. The stock has a market capitalization of $140.53 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 3.35 and a beta of 1.55. The business’s 50 day simple moving average is $158.17 and its two-hundred day simple moving average is $148.47. 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 (NASDAQ:AMATGet Free Report) last released its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.14. Applied Materials had a return on equity of 46.12% and a net margin of 25.85%. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same period last year, the company earned $2.03 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that Applied Materials, Inc. will post 7.56 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 0.76%. Applied Materials’s dividend payout ratio (DPR) is 15.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMAT shares. Mizuho increased their price objective on shares of Applied Materials from $162.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. JPMorgan Chase & Co. increased their target price on shares of Applied Materials from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. TD Cowen increased their target price on shares of Applied Materials from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Raymond James increased their price objective on shares of Applied Materials from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Bank Of America (Bofa) increased their price objective on shares of Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.92.

Read Our Latest Report on AMAT

Insider Activity at Applied Materials

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

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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