Wright Investors Service Inc. lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,467 shares of the manufacturing equipment provider’s stock after purchasing an additional 539 shares during the period. Wright Investors Service Inc.’s holdings in Applied Materials were worth $2,491,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Squar Milner Financial Services LLC lifted its position in shares of Applied Materials by 190.8% during the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after purchasing an additional 458 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Applied Materials during the first quarter worth about $27,000. Horan Capital Advisors LLC. bought a new position in shares of Applied Materials during the first quarter worth about $31,000. Cable Hill Partners LLC lifted its position in shares of Applied Materials by 378.4% during the first quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 632 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new position in shares of Applied Materials during the first quarter worth about $33,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on AMAT. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Applied Materials in a research report on Sunday, May 19th. Nomura started coverage on shares of Applied Materials in a report on Friday, June 7th. They issued a “neutral” rating and a $40.00 target price on the stock. UBS Group raised their target price on shares of Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. DA Davidson cut shares of Applied Materials from a “buy” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $45.00 in a report on Monday, July 8th. Finally, B. Riley raised shares of Applied Materials from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $54.00 in a report on Friday, May 17th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.00.
Shares of AMAT traded up $0.32 during mid-day trading on Thursday, reaching $47.04. 2,932,572 shares of the company’s stock traded hands, compared to its average volume of 8,919,568. The firm’s 50-day simple moving average is $46.99. The company has a market cap of $43.49 billion, a PE ratio of 10.57, a P/E/G ratio of 2.35 and a beta of 1.68. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a 12 month low of $28.79 and a 12 month high of $52.42.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. As a group, analysts expect that Applied Materials, Inc. will post 2.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.79%. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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