Duality Advisers LP purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 186,490 shares of the manufacturing equipment provider’s stock, valued at approximately $7,396,000.
Other hedge funds also recently modified their holdings of the company. Squar Milner Financial Services LLC grew its holdings in shares of Applied Materials by 190.8% during the 1st 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 in the last quarter. Sontag Advisory LLC acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $30,000. Bruderman Asset Management LLC acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $31,000. Lenox Wealth Advisors LLC grew its holdings in shares of Applied Materials by 73.7% during the 1st quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock worth $31,000 after purchasing an additional 331 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of Applied Materials during the 1st quarter worth approximately $31,000. 77.54% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on AMAT shares. BidaskClub lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. ValuEngine raised Applied Materials from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Zacks Investment Research raised Applied Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Susquehanna Bancshares raised Applied Materials from a “neutral” rating to a “positive” rating and boosted their price target for the company from $34.00 to $60.00 in a research note on Wednesday, May 15th. Finally, Cowen boosted their price target on Applied Materials from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $51.43.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 earnings per share. As a group, analysts anticipate that Applied Materials, Inc. will post 2.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. Applied Materials’s payout ratio is currently 18.88%.
In related news, SVP Steve G. Ghanayem sold 25,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total value of $1,067,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen R. Forrest sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
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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