Barbara Oil Co. Invests $511,000 in Applied Materials, Inc. (AMAT)

Barbara Oil Co. acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the manufacturing equipment provider’s stock, valued at approximately $511,000.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Applied Materials by 1.8% in the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock valued at $3,521,655,000 after purchasing an additional 1,248,388 shares in the last quarter. Egerton Capital UK LLP grew its stake in Applied Materials by 23.2% in the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after purchasing an additional 3,184,994 shares in the last quarter. Janus Henderson Group PLC grew its stake in Applied Materials by 5.7% in the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after purchasing an additional 650,755 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in Applied Materials by 2.2% in the third quarter. Epoch Investment Partners Inc. now owns 10,859,674 shares of the manufacturing equipment provider’s stock valued at $565,681,000 after purchasing an additional 235,793 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Applied Materials by 1.1% in the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after purchasing an additional 64,186 shares in the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.

A number of research firms have weighed in on AMAT. Deutsche Bank raised their price target on Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp raised their price target on Applied Materials from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday. Stifel Nicolaus raised their price target on Applied Materials from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday. Credit Suisse Group raised their price target on Applied Materials from $72.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $63.84.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at $55.03 on Friday. The firm has a market capitalization of $57,980.00, a P/E ratio of 15.33, a P/E/G ratio of 1.02 and a beta of 1.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.43 and a current ratio of 2.96. Applied Materials, Inc. has a fifty-two week low of $34.72 and a fifty-two week high of $60.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same period last year, the firm posted $0.67 EPS. analysts predict that Applied Materials, Inc. will post 4.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be issued a dividend of $0.20 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio (DPR) is presently 11.14%.

Applied Materials declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is currently owned by insiders.

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Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

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

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