Karp Capital Management Corp Invests $17.55 Million in Applied Materials, Inc. (AMAT)

Karp Capital Management Corp Invests $17.55 Million in Applied Materials, Inc. (AMAT)

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Applied Materials during the fourth quarter valued at $306,251,000. LSV Asset Management boosted its stake in Applied Materials by 151.5% in the first quarter. LSV Asset Management now owns 7,572,100 shares of the manufacturing equipment provider’s stock valued at $294,554,000 after buying an additional 4,561,500 shares during the period. AQR Capital Management LLC boosted its stake in Applied Materials by 24.2% in the fourth quarter. AQR Capital Management LLC now owns 17,399,598 shares of the manufacturing equipment provider’s stock valued at $561,485,000 after buying an additional 3,392,749 shares during the period. PNC Financial Services Group Inc. boosted its stake in Applied Materials by 867.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,436,582 shares of the manufacturing equipment provider’s stock valued at $103,611,000 after buying an additional 3,081,415 shares during the period. Finally, Marshall Wace LLP boosted its stake in Applied Materials by 8,743.9% in the fourth quarter. Marshall Wace LLP now owns 2,891,352 shares of the manufacturing equipment provider’s stock valued at $93,304,000 after buying an additional 2,858,659 shares during the period. Institutional investors own 82.52% of the company’s stock.

Karp Capital Management Corp purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the first quarter, Holdings Channel reports. The fund purchased 451,126 shares of the manufacturing equipment provider’s stock, valued at approximately $17,549,000.

Shares of Applied Materials, Inc. (AMAT) opened at 45.50 on Tuesday. The company has a market cap of $48.90 billion, a P/E ratio of 18.82 and a beta of 1.81. The company’s 50-day moving average price is $41.70 and its 200 day moving average price is $36.44. Applied Materials, Inc. has a one year low of $22.17 and a one year high of $45.74.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The firm’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, equities research analysts anticipate that Applied Materials, Inc. will post $3.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 25th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, May 23rd. Applied Materials’s payout ratio is 25.64%.

Several analysts have recently weighed in on AMAT shares. Royal Bank of Canada restated a “hold” rating and set a $35.00 price target on shares of Applied Materials in a report on Tuesday, April 25th. Bank of America Corp set a $40.00 price target on Applied Materials and gave the stock a “buy” rating in a report on Tuesday, February 14th. Vetr cut Applied Materials from a “strong-buy” rating to a “buy” rating and set a $42.81 price target on the stock. in a report on Wednesday, April 19th. Needham & Company LLC boosted their price target on Applied Materials from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Finally, Cowen and Company boosted their price target on Applied Materials from $33.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, February 13th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $44.23.

Applied Materials Company Profile

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