Boston Partners Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Boston Partners increased its stake in Applied Materials, Inc. by 28.5% during the first quarter, owning a total of 2,345,643 shares valued at approximately $339.68 million.
• Applied Materials' stock is currently rated as a Moderate Buy by analysts, with an average price target of $204.09.
• The company has declared a quarterly dividend of $0.46 per share, representing an annualized yield of 1.0%, with the dividend payout ratio at 22.38%.

Boston Partners grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,345,643 shares of the manufacturing equipment provider's stock after purchasing an additional 519,771 shares during the period. Boston Partners owned about 0.29% of Applied Materials worth $339,684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. raised its position in Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Applied Materials in the 1st quarter worth approximately $29,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Applied Materials by 435.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider's stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Applied Materials during the 4th quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Applied Materials during the 4th quarter valued at $46,000. Institutional investors own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Redburn Atlantic cut Applied Materials from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $225.00 to $200.00 in a report on Monday, July 7th. The Goldman Sachs Group assumed coverage on Applied Materials in a research note on Thursday, July 10th. They issued a "buy" rating and a $225.00 price target for the company. Rothschild & Co Redburn lowered Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a research note on Monday, July 7th. Mizuho raised their price objective on Applied Materials from $195.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Finally, B. Riley cut their price objective on Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Applied Materials currently has a consensus rating of "Moderate Buy" and an average target price of $204.09.

Applied Materials Stock Performance

Applied Materials stock opened at $188.45 on Wednesday. The company has a 50 day moving average price of $183.24 and a 200-day moving average price of $166.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $215.70. The company has a market capitalization of $151.23 billion, a PE ratio of 22.93, a P/E/G ratio of 2.05 and a beta of 1.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. Applied Materials's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 earnings per share. As a group, equities analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.0%. Applied Materials's dividend payout ratio is presently 22.38%.

Insider Activity

In other news, CAO Adam Sanders sold 562 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at approximately $946,580. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Applied Materials 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.

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