Shell Asset Management Co. Has $7.67 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Shell Asset Management Co. lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,301 shares of the manufacturing equipment provider’s stock after selling 15,836 shares during the period. Shell Asset Management Co.’s holdings in Applied Materials were worth $7,666,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Wealth Quarterback LLC acquired a new stake in shares of Applied Materials in the 4th quarter valued at $3,822,210,000. Bank of New York Mellon Corp lifted its stake in shares of Applied Materials by 9.3% in the 1st quarter. Bank of New York Mellon Corp now owns 17,861,988 shares of the manufacturing equipment provider’s stock valued at $818,438,000 after purchasing an additional 1,515,901 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Applied Materials by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 14,522,113 shares of the manufacturing equipment provider’s stock valued at $885,002,000 after purchasing an additional 1,208,651 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Applied Materials by 26.1% in the 4th quarter. Nuveen Asset Management LLC now owns 13,708,691 shares of the manufacturing equipment provider’s stock valued at $836,778,000 after purchasing an additional 2,835,684 shares during the last quarter. Finally, Parnassus Investments CA lifted its stake in shares of Applied Materials by 158.4% in the 1st quarter. Parnassus Investments CA now owns 13,693,901 shares of the manufacturing equipment provider’s stock valued at $627,455,000 after purchasing an additional 8,393,901 shares during the last quarter. 80.88% of the stock is owned by institutional investors and hedge funds.

Shares of Applied Materials stock traded down $0.63 during trading on Friday, hitting $54.39. 6,875,460 shares of the company’s stock traded hands, compared to its average volume of 9,922,808. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.67 and a quick ratio of 1.89. The firm’s fifty day moving average price is $50.51 and its 200 day moving average price is $56.21. Applied Materials, Inc. has a twelve month low of $36.64 and a twelve month high of $69.44. The company has a market cap of $50.53 billion, a PE ratio of 17.32, a PEG ratio of 1.06 and a beta of 1.38.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Applied Materials had a net margin of 18.89% and a return on equity of 37.13%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 3.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.22 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, May 20th. Applied Materials’s payout ratio is 28.95%.

Several equities research analysts recently issued reports on AMAT shares. Citigroup reduced their price objective on shares of Applied Materials from $76.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, March 24th. KeyCorp dropped their target price on shares of Applied Materials from $86.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Morgan Stanley lifted their target price on shares of Applied Materials from $50.00 to $52.50 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Needham & Company LLC dropped their target price on shares of Applied Materials from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, May 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their target price on shares of Applied Materials from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $67.35.

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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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