Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by First Hawaiian Bank

Posted by Defense World Staff on Mar 22nd, 2023

First Hawaiian Bank raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 10.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,727 shares of the manufacturing equipment provider’s stock after acquiring an additional 1,911 shares during the period. First Hawaiian Bank’s holdings in Applied Materials were worth $1,921,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Applied Materials by 1.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,122,174 shares of the manufacturing equipment provider’s stock valued at $829,935,000 after acquiring an additional 154,413 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Applied Materials by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 7,004,320 shares of the manufacturing equipment provider’s stock worth $637,253,000 after buying an additional 63,907 shares during the last quarter. Pictet Asset Management SA increased its holdings in shares of Applied Materials by 1.2% during the 3rd quarter. Pictet Asset Management SA now owns 6,224,697 shares of the manufacturing equipment provider’s stock worth $509,890,000 after buying an additional 74,236 shares during the last quarter. Cowa LLC acquired a new stake in shares of Applied Materials during the 1st quarter worth $76,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Applied Materials by 32.9% during the 3rd quarter. Fisher Asset Management LLC now owns 5,311,447 shares of the manufacturing equipment provider’s stock worth $435,167,000 after buying an additional 1,316,029 shares during the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT stock opened at $120.40 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.47 and a current ratio of 2.31. Applied Materials, Inc. has a one year low of $71.12 and a one year high of $142.01. The company’s 50-day simple moving average is $115.43 and its 200-day simple moving average is $102.14. The stock has a market capitalization of $101.75 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 3.13 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The manufacturing equipment provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.93 by $0.10. Applied Materials had a net margin of 24.57% and a return on equity of 55.08%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter last year, the company posted $1.89 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Applied Materials, Inc. will post 7.01 earnings per share for the current fiscal year.

Applied Materials declared that its Board of Directors has initiated a share buyback program on Monday, March 13th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 25th will be given a dividend of $0.32 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $1.28 annualized dividend and a dividend yield of 1.06%. Applied Materials’s dividend payout ratio (DPR) is presently 13.94%.

Insider Transactions at Applied Materials

In other news, Director Xun Chen sold 377 shares of the stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $107.80, for a total transaction of $40,640.60. Following the transaction, the director now owns 39,868 shares of the company’s stock, valued at $4,297,770.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Applied Materials news, Director Xun Chen sold 377 shares of the firm’s stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $107.80, for a total value of $40,640.60. Following the transaction, the director now owns 39,868 shares of the company’s stock, valued at $4,297,770.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Teri A. Little sold 6,813 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $117.44, for a total transaction of $800,118.72. Following the completion of the transaction, the senior vice president now directly owns 98,332 shares in the company, valued at approximately $11,548,110.08. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Loop Capital assumed coverage on Applied Materials in a report on Tuesday, December 6th. They set a “buy” rating and a $125.00 price objective for the company. TheStreet upgraded Applied Materials from a “c+” rating to a “b-” rating in a report on Wednesday, November 23rd. B. Riley upped their price objective on Applied Materials from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 17th. KGI Securities upgraded Applied Materials from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 1st. Finally, DA Davidson restated a “buy” rating on shares of Applied Materials in a report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.16.

Applied Materials Company Profile

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Applied Materials, Inc provides manufacturing equipment, services and software to the semiconductor, display and related industries. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

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

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