Cibc World Markets Corp Raises Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Cibc World Markets Corp grew its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 389.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 697,783 shares of the manufacturing equipment provider’s stock after purchasing an additional 555,205 shares during the quarter. Applied Materials comprises approximately 0.6% of Cibc World Markets Corp’s investment portfolio, making the stock its 21st biggest holding. Cibc World Markets Corp owned about 0.08% of Applied Materials worth $113,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC purchased a new position in Applied Materials in the fourth quarter worth $27,000. DSM Capital Partners LLC purchased a new stake in shares of Applied Materials during the fourth quarter valued at $37,000. L2 Asset Management LLC grew its holdings in shares of Applied Materials by 795.0% during the third quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock valued at $41,000 after buying an additional 26,298 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of Applied Materials during the fourth quarter valued at $45,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Applied Materials during the fourth quarter valued at $49,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Susquehanna boosted their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Bank of America boosted their target price on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Evercore ISI initiated coverage on shares of Applied Materials in a research report on Tuesday, April 16th. They set an “outperform” rating and a $260.00 target price for the company. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $165.00 to $225.00 in a research report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $260.00 target price on shares of Applied Materials in a research report on Friday, May 17th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $219.04.

Read Our Latest Analysis on Applied Materials

Insider Activity

In other news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the transaction, the senior vice president now directly owns 78,712 shares in the company, valued at approximately $16,767,230.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the sale, the chief financial officer now directly owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Teri A. Little sold 7,500 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Applied Materials Price Performance

NASDAQ AMAT traded down $1.62 during trading hours on Thursday, hitting $221.75. 3,950,660 shares of the company’s stock traded hands, compared to its average volume of 5,806,981. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $225.07. The company has a market capitalization of $183.60 billion, a PE ratio of 25.49, a PEG ratio of 2.77 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The firm’s 50-day moving average is $208.57 and its 200-day moving average is $185.98.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the company posted $2.00 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Applied Materials, Inc. will post 8.32 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a $0.40 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.72%. Applied Materials’s dividend payout ratio is 18.39%.

About Applied Materials

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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