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Applied Materials Inc. (NASDAQ:AMAT), a prominent player in the semiconductor industry with a market capitalization of $121.49 billion, announced the results of its Annual Meeting of Shareholders held on March 6, 2025. The company, which has maintained strong financial health according to InvestingPro analysis, gathered shareholders to vote on several key proposals, including the election of directors and approval of executive compensation.
The company confirmed that all ten director nominees were elected to serve one-year terms. The elected directors include Rani Borkar, Judy Bruner, Xun (Eric) Chen, Aart J. de Geus, Gary E. Dickerson, Thomas J. Iannotti, Alexander A. Karsner, Kevin P. March, Yvonne McGill, and Scott A. McGregor. The voting results showed a strong majority in favor, with the number of votes against and abstentions being significantly smaller by comparison.
Additionally, shareholders approved, on an advisory basis, the compensation of the company’s named executive officers for the fiscal year 2024. The proposal received a majority of votes in favor, with 544,787,137 votes for, 47,074,703 against, and 4,225,587 abstentions.
The third proposal on the agenda was the ratification of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year 2025. This proposal also passed with an overwhelming majority of votes for the appointment, totaling 647,333,239, against 40,798,735, and 1,103,484 abstentions.
The Annual Meeting, which took place on a Monday, saw a significant number of broker non-votes for each proposal, which did not affect the outcome of the votes.
These results reflect shareholder confidence in the company’s governance and executive compensation practices. The approval of KPMG LLP as the auditor ensures continuity in the company’s financial oversight for the upcoming fiscal year.
This press release statement serves as the source of information for this report. The details provided are factual, based on the company’s latest SEC filing, and do not include any speculative content about the company or the broader industry.
In other recent news, Applied Materials announced a 15% increase in its quarterly cash dividend, marking continued growth in shareholder returns. This increase is accompanied by a new $10 billion share repurchase program, reflecting the company’s commitment to returning value to its shareholders. Additionally, Applied Materials has secured a new $2 billion revolving credit facility, replacing a previous $1.5 billion credit line, providing the company with greater financial flexibility. This credit agreement, arranged with Bank of America, supports potential future investments and operational needs.
In a move to enhance its technological capabilities, Applied Materials has introduced the SEMVision™ H20 system, a defect review tool that integrates advanced electron beam technology with artificial intelligence. This system aims to improve the speed and accuracy of defect detection in semiconductor manufacturing. Meanwhile, Broadcom (NASDAQ:AVGO)’s optimistic forecast for AI chip production has positively impacted other chipmakers, including Applied Materials.
In related industry news, Lam Research (NASDAQ:LRCX) has unveiled new tools designed to support the production of advanced AI chips, positioning itself in competition with Applied Materials and other leading equipment suppliers. These developments highlight the dynamic nature of the semiconductor industry and the ongoing innovations driving growth in this sector.
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