Applied Materials, Inc. (AMAT) Stake Increased by CIBC Asset Management Inc
CIBC Asset Management Inc increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,796 shares of the manufacturing equipment provider’s stock after buying an additional 3,601 shares during the period. CIBC Asset Management Inc’s holdings in Applied Materials were worth $6,229,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. Fisher Asset Management LLC bought a new stake in shares of Applied Materials during the first quarter worth about $371,000. Capital Management Corp VA boosted its stake in shares of Applied Materials by 1.8% in the first quarter. Capital Management Corp VA now owns 231,324 shares of the manufacturing equipment provider’s stock worth $8,998,000 after buying an additional 4,076 shares during the last quarter. Oxford Asset Management bought a new stake in shares of Applied Materials during the first quarter worth about $4,956,000. Karp Capital Management Corp bought a new stake in shares of Applied Materials during the first quarter worth about $17,549,000. Finally, Outfitter Advisors LTD. boosted its stake in shares of Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after buying an additional 600 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.81 on Thursday. The firm has a 50-day moving average price of $44.31 and a 200-day moving average price of $40.89. The company has a market capitalization of $47.08 billion, a PE ratio of 18.12 and a beta of 1.82. Applied Materials, Inc. has a 12 month low of $26.41 and a 12 month high of $47.86. Applied Materials also was the target of unusually large options trading on Wednesday. Stock investors acquired 2,307 call options on the company. This represents an increase of approximately 118% compared to the typical daily volume of 1,060 call options.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. Applied Materials’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. On average, equities research analysts predict that Applied Materials, Inc. will post $3.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Applied Materials’s dividend payout ratio (DPR) is presently 16.46%.
A number of research analysts have recently commented on the company. UBS AG reiterated a “buy” rating and set a $51.00 price target (up from $44.00) on shares of Applied Materials in a report on Wednesday, May 17th. B. Riley reiterated a “buy” rating and set a $44.00 price target on shares of Applied Materials in a report on Monday, May 15th. Royal Bank Of Canada reiterated a “hold” rating and set a $35.00 price target on shares of Applied Materials in a report on Tuesday, April 25th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $47.32 price target for the company in a report on Friday, July 14th. Finally, BidaskClub lowered Applied Materials from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.62.
About Applied Materials
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