The Manufacturers Life Insurance Company Has $36.27 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

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The Manufacturers Life Insurance Company raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 914,627 shares of the manufacturing equipment provider’s stock after purchasing an additional 38,632 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Applied Materials were worth $36,274,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Applied Materials by 13.6% during the 4th quarter. Bank of New York Mellon Corp now owns 23,108,959 shares of the manufacturing equipment provider’s stock worth $756,588,000 after purchasing an additional 2,772,739 shares during the last quarter. FMR LLC increased its position in shares of Applied Materials by 52.1% during the 4th quarter. FMR LLC now owns 22,370,392 shares of the manufacturing equipment provider’s stock worth $732,406,000 after purchasing an additional 7,664,767 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Applied Materials by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock worth $459,453,000 after purchasing an additional 794,347 shares during the last quarter. Norges Bank acquired a new position in shares of Applied Materials during the 4th quarter worth approximately $407,503,000. Finally, Northern Trust Corp increased its position in shares of Applied Materials by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,190,745 shares of the manufacturing equipment provider’s stock worth $483,486,000 after purchasing an additional 181,920 shares during the last quarter. Institutional investors own 77.59% of the company’s stock.

A number of research analysts recently weighed in on the company. Cowen boosted their target price on Applied Materials from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Citigroup boosted their target price on Applied Materials from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Wells Fargo & Co boosted their target price on Applied Materials from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, June 4th. Finally, Nomura assumed coverage on Applied Materials in a report on Friday, June 7th. They set a “neutral” rating and a $40.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and seventeen 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 $51.43.

NASDAQ AMAT traded down $2.16 on Wednesday, reaching $41.59. The stock had a trading volume of 364,638 shares, compared to its average volume of 10,324,416. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. Applied Materials, Inc. has a 1-year low of $28.79 and a 1-year high of $51.59. The firm has a market cap of $40.95 billion, a price-to-earnings ratio of 9.36, a P/E/G ratio of 1.55 and a beta of 1.66.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the firm posted $1.22 EPS. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post 2.98 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio is 18.88%.

In other news, Director Stephen R. Forrest sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $42.45, for a total transaction of $84,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steve G. Ghanayem sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total value of $1,067,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,255 shares of company stock worth $6,987,176. Insiders own 0.44% of the company’s stock.

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Applied Materials Company Profile

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

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