Pitcairn Co. decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,264 shares of the manufacturing equipment provider’s stock after selling 3,505 shares during the quarter. Pitcairn Co.’s holdings in Applied Materials were worth $629,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kaizen Advisory LLC raised its position in Applied Materials by 147.4% during the second quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock worth $118,000 after acquiring an additional 1,526 shares in the last quarter. Rational Advisors LLC raised its position in Applied Materials by 5,102.0% during the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock worth $120,000 after acquiring an additional 2,551 shares in the last quarter. AdvisorNet Financial Inc raised its position in Applied Materials by 127.1% during the second quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock worth $141,000 after acquiring an additional 1,709 shares in the last quarter. Amussen Hunsaker Associates LLC bought a new stake in Applied Materials during the second quarter worth $162,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Applied Materials during the second quarter worth $177,000. Institutional investors and hedge funds own 77.40% of the company’s stock.
Several analysts have issued reports on the stock. Morgan Stanley lowered shares of Applied Materials from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $58.00 to $54.00 in a research report on Thursday, August 9th. Cowen raised shares of Applied Materials from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $60.00 to $62.00 in a research report on Monday, August 6th. Stifel Nicolaus dropped their price target on shares of Applied Materials from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. Wells Fargo & Co dropped their price objective on shares of Applied Materials from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, August 17th. Finally, BidaskClub raised shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.50.
Shares of AMAT opened at $35.17 on Wednesday. The stock has a market capitalization of $34.67 billion, a PE ratio of 10.82, a P/E/G ratio of 0.97 and a beta of 1.60. Applied Materials, Inc. has a fifty-two week low of $30.53 and a fifty-two week high of $62.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.67 and a current ratio of 2.52.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.42 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. Equities research analysts anticipate that Applied Materials, Inc. will post 4.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, November 21st. Applied Materials’s dividend payout ratio is 24.62%.
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Applied Materials Profile
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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