Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 41.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 373,893 shares of the manufacturing equipment provider’s stock after acquiring an additional 110,307 shares during the period. CIBC Asset Management Inc’s holdings in Applied Materials were worth $60,770,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Crews Bank & Trust purchased a new stake in Applied Materials in the 4th quarter valued at $28,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the third quarter worth approximately $37,000. DT Investment Partners LLC raised its position in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after purchasing an additional 166 shares during the period. YANKCOM Partnership purchased a new position in Applied Materials during the fourth quarter worth about $32,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Down 8.2 %

AMAT opened at $169.20 on Monday. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The stock has a market capitalization of $137.51 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. The business’s 50-day simple moving average is $175.36 and its 200-day simple moving average is $184.31.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays lowered their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a report on Friday, January 17th. TD Cowen decreased their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Finally, Evercore ISI lowered their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.10.

Applied Materials Company Profile

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.