ARP Americas LP trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 65.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,513 shares of the manufacturing equipment provider’s stock after selling 8,735 shares during the period. ARP Americas LP’s holdings in Applied Materials were worth $273,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in AMAT. Parnassus Investments CA raised its holdings in Applied Materials by 158.4% during the 1st quarter. Parnassus Investments CA now owns 13,693,901 shares of the manufacturing equipment provider’s stock worth $627,455,000 after buying an additional 8,393,901 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Applied Materials by 75.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,512,538 shares of the manufacturing equipment provider’s stock worth $344,224,000 after buying an additional 3,233,029 shares during the period. Cantillon Capital Management LLC acquired a new stake in Applied Materials during the 1st quarter worth approximately $111,766,000. Fisher Asset Management LLC raised its holdings in Applied Materials by 34,683.4% during the 1st quarter. Fisher Asset Management LLC now owns 1,630,993 shares of the manufacturing equipment provider’s stock worth $74,732,000 after buying an additional 1,626,304 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Applied Materials by 9.3% during the 1st quarter. Bank of New York Mellon Corp now owns 17,861,988 shares of the manufacturing equipment provider’s stock worth $818,438,000 after buying an additional 1,515,901 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.
In other Applied Materials news, Director Alexander Karsner sold 3,467 shares of Applied Materials stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $60.50, for a total transaction of $209,753.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the firm earned $0.70 earnings per share. As a group, analysts anticipate that Applied Materials, Inc. will post 3.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. Applied Materials’s dividend payout ratio (DPR) is 28.95%.
AMAT has been the topic of several research analyst reports. Deutsche Bank raised their target price on shares of Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Morgan Stanley raised their target price on shares of Applied Materials from $52.50 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 16th. Cfra decreased their price target on shares of Applied Materials from $68.00 to $60.00 and set a “hold” rating for the company in a research note on Friday, May 15th. KeyCorp reaffirmed a “buy” rating and set a $76.00 price target on shares of Applied Materials in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus raised their price target on shares of Applied Materials from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $68.50.
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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