Boston Common Asset Management LLC has recently reduced its holdings in Applied Materials, Inc. (NASDAQ: AMAT), a major manufacturing equipment provider. According to the company’s filing with the Securities and Exchange Commission (SEC), Boston Common Asset Management LLC sold 35,943 shares of Applied Materials during the 3rd quarter, representing a 14.3% decrease in its holdings.
This move by Boston Common Asset Management LLC is part of its ongoing efforts to reallocate its investment portfolio. The firm now owns 215,370 shares of Applied Materials, with a total value of $29,818,000 at the end of the quarter.
In addition to Boston Common Asset Management LLC, several other large investors have also adjusted their positions in Applied Materials recently. Mirae Asset Global Investments Co. Ltd., Zions Bancorporation N.A., Brown Brothers Harriman & Co., Merit Financial Group LLC, and West Family Investments Inc. have all made changes to their stakes in the manufacturing equipment provider.
Applied Materials, Inc. (NASDAQ: AMAT) opened at $160.36 on Tuesday, with a market cap of $134.63 billion. The stock has a price-to-earnings ratio of 19.77 and a beta of 1.57. It has a 1-year low of $93.68 and a 1-year high of $164.21. The company has a current ratio of 2.60, a quick ratio of 1.82, and a debt-to-equity ratio of 0.33. The stock’s fifty-day moving average price is $145.48, and its 200-day moving average price is $143.40.
Applied Materials recently announced that it will pay a quarterly dividend on Thursday, March 14th. Shareholders of record on Thursday, February 22nd will receive a dividend of $0.32 per share. With an annualized dividend of $1.28, the dividend represents a yield of 0.80%. The company’s dividend payout ratio (DPR) is currently 15.78%.
Equity analysts have been actively following Applied Materials and have provided their recommendations. Redburn Atlantic upgraded Applied Materials from a ‘neutral’ rating to a ‘buy’ rating, setting a price target of $175.00. Morgan Stanley lifted their target price from $139.00 to $142.00, while JPMorgan Chase & Co. increased their target price from $165.00 to $170.00. Raymond James and Wolfe Research also provided positive ratings for the stock.
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 used to fabricate semiconductor chips or integrated circuits.
As Boston Common Asset Management LLC reduces its holdings in Applied Materials, Inc., it will be interesting to see how this impacts the company’s financial performance and its position in the manufacturing equipment industry.
