CIBC Asset Management Inc Raises Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

CIBC Asset Management Inc grew its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 41.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,893 shares of the manufacturing equipment provider’s stock after acquiring an additional 110,307 shares during the period. CIBC Asset Management Inc’s holdings in Applied Materials were worth $60,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Applied Materials by 1.8% in the 3rd quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock worth $7,841,178,000 after buying an additional 672,548 shares during the last quarter. Geode Capital Management LLC increased its stake in Applied Materials by 1.9% during the third quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock worth $3,994,968,000 after acquiring an additional 371,866 shares during the last quarter. FMR LLC lifted its stake in shares of Applied Materials by 5.5% in the 3rd quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock valued at $3,316,269,000 after purchasing an additional 858,122 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Applied Materials by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock worth $1,790,554,000 after purchasing an additional 318,445 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Applied Materials by 1.3% during the 4th quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider’s stock valued at $1,082,353,000 after purchasing an additional 84,130 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $169.20 on Monday. Applied Materials, Inc. has a twelve month low of $158.96 and a twelve month high of $255.89. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The company has a market cap of $137.51 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. The company’s 50 day moving average is $175.36 and its 200 day moving average is $184.31.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. On average, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.95%. Applied Materials’s dividend payout ratio is presently 18.58%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Mizuho dropped their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Stifel Nicolaus cut their price objective on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC lowered their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday. Finally, Barclays reduced their price target on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $216.10.

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.