Rhumbline Advisers lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,619,766 shares of the manufacturing equipment provider’s stock after purchasing an additional 43,182 shares during the period. Rhumbline Advisers owned 0.17% of Applied Materials worth $64,240,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Applied Materials by 24.5% during the 1st quarter. Parallel Advisors LLC now owns 4,127 shares of the manufacturing equipment provider’s stock worth $164,000 after purchasing an additional 811 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of Applied Materials by 86.0% in the 1st quarter. Moors & Cabot Inc. now owns 26,766 shares of the manufacturing equipment provider’s stock valued at $1,064,000 after buying an additional 12,375 shares during the period. Aviance Capital Partners LLC grew its stake in shares of Applied Materials by 7.8% in the 1st quarter. Aviance Capital Partners LLC now owns 39,890 shares of the manufacturing equipment provider’s stock valued at $1,582,000 after buying an additional 2,897 shares during the period. Sterling Investment Advisors Ltd. grew its stake in shares of Applied Materials by 69.0% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,450 shares of the manufacturing equipment provider’s stock valued at $97,000 after buying an additional 1,000 shares during the period. Finally, Paragon Capital Management Ltd acquired a new stake in shares of Applied Materials in the 1st quarter valued at about $203,000. Institutional investors own 76.52% of the company’s stock.
AMAT stock traded up $0.36 during midday trading on Wednesday, reaching $39.37. 9,433,662 shares of the company’s stock traded hands, compared to its average volume of 10,425,152. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. Applied Materials, Inc. has a 52 week low of $28.79 and a 52 week high of $53.23. The stock has a market capitalization of $36.52 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.47 and a beta of 1.66.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.48 billion. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. Equities research analysts anticipate that Applied Materials, Inc. will post 2.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.13%. Applied Materials’s payout ratio is 18.88%.
In related news, Director Stephen R. Forrest sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Omkaram Nalamasu sold 143,255 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $40.73, for a total transaction of $5,834,776.15. The disclosure for this sale can be found here. Insiders sold 170,255 shares of company stock valued at $6,987,176 over the last quarter. 0.44% of the stock is owned by company insiders.
Several analysts have recently commented on AMAT shares. Zacks Investment Research downgraded Applied Materials from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Argus reiterated a “buy” rating on shares of Applied Materials in a research note on Tuesday, February 19th. B. Riley upgraded Applied Materials from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $54.00 in a research note on Friday, May 17th. UBS Group lifted their price target on Applied Materials from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Finally, ValuEngine upgraded Applied Materials from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $52.57.
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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