Pillar Pacific Capital Management LLC cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,605 shares of the manufacturing equipment provider’s stock after selling 12,768 shares during the quarter. Applied Materials comprises approximately 1.5% of Pillar Pacific Capital Management LLC’s holdings, making the stock its 9th biggest position. Pillar Pacific Capital Management LLC’s holdings in Applied Materials were worth $18,175,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in shares of Applied Materials in the third quarter valued at $25,000. Key Financial Inc bought a new position in shares of Applied Materials in the fourth quarter valued at $26,000. Paces Ferry Wealth Advisors LLC bought a new position in shares of Applied Materials in the third quarter valued at $31,000. Sun Life Financial INC bought a new position in shares of Applied Materials in the third quarter valued at $32,000. Finally, Addison Advisors LLC bought a new position in shares of Applied Materials in the fourth quarter valued at $38,000. 78.80% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Omkaram Nalamasu sold 800 shares of the company’s stock in a transaction that occurred on Monday, December 21st. The stock was sold at an average price of $86.50, for a total value of $69,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.11. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, sell-side analysts expect that Applied Materials, Inc. will post 4.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 18th. Investors of record on Thursday, February 25th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.76%. The ex-dividend date is Wednesday, February 24th. Applied Materials’s payout ratio is presently 21.10%.
A number of research firms have commented on AMAT. Citigroup lifted their price objective on shares of Applied Materials from $80.00 to $130.00 in a research report on Monday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $118.00 price objective (up from $99.00) on shares of Applied Materials in a research report on Monday, January 18th. Needham & Company LLC lifted their price objective on shares of Applied Materials from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Craig Hallum lifted their target price on Applied Materials from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company lifted their target price on Applied Materials to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 12th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Applied Materials currently has an average rating of “Buy” and a consensus price target of $121.92.
Applied Materials 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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