Holderness Investments Co. lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,120 shares of the manufacturing equipment provider’s stock after selling 3,589 shares during the period. Applied Materials makes up 1.8% of Holderness Investments Co.’s portfolio, making the stock its 10th biggest position. Holderness Investments Co.’s holdings in Applied Materials were worth $3,913,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sompo Japan Nipponkoa Asset Management CO. LTD. raised its position in shares of Applied Materials by 1.4% during the second quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 55,870 shares of the manufacturing equipment provider’s stock worth $2,509,000 after purchasing an additional 770 shares during the period. Capital Wealth Planning LLC acquired a new stake in Applied Materials in the 2nd quarter valued at approximately $279,000. Comerica Bank raised its position in Applied Materials by 2.6% in the 2nd quarter. Comerica Bank now owns 201,006 shares of the manufacturing equipment provider’s stock valued at $9,291,000 after buying an additional 5,001 shares during the last quarter. Next Capital Management LLC acquired a new stake in Applied Materials in the 2nd quarter valued at approximately $35,000. Finally, Envestnet Asset Management Inc. raised its position in Applied Materials by 3.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 416,407 shares of the manufacturing equipment provider’s stock valued at $18,701,000 after buying an additional 13,369 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.
A number of equities research analysts recently issued reports on AMAT shares. Deutsche Bank lifted their target price on Applied Materials from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Friday. KeyCorp dropped their target price on Applied Materials from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday. BidaskClub lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, June 4th. Finally, ValuEngine lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Applied Materials has an average rating of “Buy” and an average price target of $50.90.
Shares of NASDAQ:AMAT traded down $0.53 during trading on Friday, hitting $46.63. 17,658,200 shares of the company were exchanged, compared to its average volume of 8,981,748. The stock has a market cap of $43.65 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 2.37 and a beta of 1.68. Applied Materials, Inc. has a fifty-two week low of $28.79 and a fifty-two week high of $52.42. The firm has a fifty day moving average price of $47.10 and a two-hundred day moving average price of $42.51. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 EPS. As a group, research analysts predict that Applied Materials, Inc. will post 2.96 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio (DPR) is 18.88%.
Applied Materials Company 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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