Redmond Asset Management LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 39,452 shares of the manufacturing equipment provider’s stock after selling 1,208 shares during the quarter. Redmond Asset Management LLC’s holdings in Applied Materials were worth $1,772,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the business. FMR LLC lifted its stake in Applied Materials by 16.3% during the 1st quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock valued at $1,032,245,000 after acquiring an additional 3,656,960 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Applied Materials by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after purchasing an additional 794,347 shares during the last quarter. American Century Companies Inc. increased its position in shares of Applied Materials by 5.0% during the 1st quarter. American Century Companies Inc. now owns 13,190,671 shares of the manufacturing equipment provider’s stock valued at $523,142,000 after purchasing an additional 627,763 shares during the last quarter. Northern Trust Corp increased its position in shares of Applied Materials by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,190,745 shares of the manufacturing equipment provider’s stock valued at $483,486,000 after purchasing an additional 181,920 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Applied Materials by 1.8% during the 1st quarter. LSV Asset Management now owns 8,253,978 shares of the manufacturing equipment provider’s stock valued at $327,352,000 after purchasing an additional 148,600 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.
AMAT traded up $0.31 during trading hours on Thursday, hitting $47.02. The stock had a trading volume of 2,644,873 shares, compared to its average volume of 8,919,568. The firm’s fifty day simple moving average is $46.99. Applied Materials, Inc. has a 1 year low of $28.79 and a 1 year high of $52.42. The stock has a market capitalization of $43.49 billion, a PE ratio of 10.57, a PEG ratio of 2.35 and a beta of 1.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.77 and a current ratio of 2.79.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. Analysts predict that Applied Materials, Inc. will post 2.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s payout ratio is presently 18.88%.
AMAT has been the subject of several research analyst reports. Wells Fargo & Co reaffirmed an “outperform” rating on shares of Applied Materials in a research report on Thursday, June 20th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Applied Materials in a research report on Sunday, May 19th. Cowen set a $53.00 price objective on Applied Materials and gave the stock a “buy” rating in a report on Monday. Finally, B. Riley raised Applied Materials from a “neutral” rating to a “buy” rating and lifted their price objective 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 target price of $51.00.
Applied Materials Profile
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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