Westside Investment Management Inc. purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,675 shares of the manufacturing equipment provider’s stock, valued at approximately $344,000.
Several other institutional investors also recently added to or reduced their stakes in AMAT. XR Securities LLC acquired a new position in Applied Materials during the first quarter worth $619,000. Chemical Bank raised its position in Applied Materials by 3.5% during the first quarter. Chemical Bank now owns 26,575 shares of the manufacturing equipment provider’s stock worth $1,054,000 after acquiring an additional 900 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Applied Materials during the first quarter worth $287,000. Motley Fool Asset Management LLC raised its position in Applied Materials by 11.9% during the first quarter. Motley Fool Asset Management LLC now owns 14,301 shares of the manufacturing equipment provider’s stock worth $567,000 after acquiring an additional 1,521 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Applied Materials by 18.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 380,562 shares of the manufacturing equipment provider’s stock worth $16,366,000 after acquiring an additional 59,509 shares in the last quarter. Institutional investors own 77.63% of the company’s stock.
Applied Materials stock traded down $2.14 during mid-day trading on Monday, hitting $45.41. 5,194,445 shares of the stock were exchanged, compared to its average volume of 9,225,276. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a 12 month low of $28.79 and a 12 month high of $52.42. The firm’s fifty day moving average price is $45.83. The firm has a market capitalization of $42.95 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.68.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 EPS. On average, analysts forecast that Applied Materials, Inc. will post 2.96 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio is 18.88%.
Several brokerages have recently weighed in on AMAT. BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Co reiterated an “outperform” rating on shares of Applied Materials in a research note on Thursday, June 20th. Cowen increased their price objective on shares of Applied Materials from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. B. Riley upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Friday, May 17th. Finally, Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, June 4th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus price target of $50.52.
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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