Hutchens Investment Management Inc reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 14.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 35,242 shares of the manufacturing equipment provider’s stock after selling 5,762 shares during the period. Applied Materials makes up approximately 1.7% of Hutchens Investment Management Inc’s portfolio, making the stock its 28th biggest holding. Hutchens Investment Management Inc’s holdings in Applied Materials were worth $1,801,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMAT. WIM Asset Management HK Ltd purchased a new stake in shares of Applied Materials during the 4th quarter worth about $7,515,000. DnB Asset Management AS boosted its stake in shares of Applied Materials by 15.9% during the 4th quarter. DnB Asset Management AS now owns 205,035 shares of the manufacturing equipment provider’s stock worth $10,481,000 after acquiring an additional 28,200 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Applied Materials during the 4th quarter worth about $516,000. Prudential Financial Inc. boosted its stake in shares of Applied Materials by 1.1% during the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock worth $318,778,000 after acquiring an additional 64,186 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its stake in shares of Applied Materials by 1,892.7% during the 3rd quarter. Atlantic Trust Group LLC now owns 862,580 shares of the manufacturing equipment provider’s stock worth $44,932,000 after acquiring an additional 819,292 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on AMAT shares. Credit Suisse Group reissued a “buy” rating and set a $62.00 target price on shares of Applied Materials in a research note on Tuesday, September 26th. B. Riley increased their target price on shares of Applied Materials from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. DA Davidson reissued a “buy” rating and set a $55.00 target price on shares of Applied Materials in a research note on Monday, September 25th. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Applied Materials in a research note on Monday, September 25th. Finally, Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 target price on the stock in a research note on Friday, September 22nd. One research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $62.74.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was up 20.4% on a year-over-year basis. sell-side analysts forecast that Applied Materials, Inc. will post 4.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 21st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, February 20th. Applied Materials’s dividend payout ratio (DPR) is 12.62%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ali Salehpour sold 125,125 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Insiders sold a total of 312,716 shares of company stock worth $16,218,746 over the last three months. Corporate insiders own 0.31% of the company’s stock.
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About Applied Materials
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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