Egerton Capital UK LLP Acquires 2,092,326 Shares of Applied Materials, Inc. (NASDAQ:AMAT)
Egerton Capital UK LLP raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,734,934 shares of the manufacturing equipment provider’s stock after buying an additional 2,092,326 shares during the period. Applied Materials comprises about 5.7% of Egerton Capital UK LLP’s portfolio, making the stock its 5th largest position. Egerton Capital UK LLP’s holdings in Applied Materials were worth $567,390,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of AMAT. Reilly Financial Advisors LLC raised its position in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares during the last quarter. Pinnacle Bank acquired a new position in Applied Materials during the first quarter worth $113,000. State of Alaska Department of Revenue acquired a new position in Applied Materials during the first quarter worth $114,000. James Investment Research Inc. raised its position in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after buying an additional 1,817 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at 42.03 on Friday. The stock’s 50 day moving average price is $44.27 and its 200 day moving average price is $40.90. Applied Materials, Inc. has a 12-month low of $26.86 and a 12-month high of $47.86. The firm has a market capitalization of $45.17 billion, a price-to-earnings ratio of 17.38 and a beta of 1.82. Applied Materials also was the recipient of some unusual options trading activity on Wednesday. Investors acquired 2,307 call options on the company. This is an increase of 118% compared to the typical daily volume of 1,060 call options.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The business’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. Equities research analysts expect that Applied Materials, Inc. will post $3.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s payout ratio is 16.46%.
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A number of research firms recently weighed in on AMAT. B. Riley reissued a “buy” rating and set a $44.00 target price on shares of Applied Materials in a report on Monday, May 15th. UBS Group AG reissued a “buy” rating and set a $51.00 target price (up from $44.00) on shares of Applied Materials in a report on Wednesday, May 17th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price on the stock in a report on Thursday. Cowen and Company reissued a “buy” rating and set a $50.00 target price on shares of Applied Materials in a report on Friday, July 28th. Finally, BidaskClub lowered Applied Materials from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $46.60.
Applied Materials Company Profile
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