Capital Advisors Inc. OK increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,937 shares of the manufacturing equipment provider’s stock after purchasing an additional 9,474 shares during the period. Capital Advisors Inc. OK’s holdings in Applied Materials were worth $18,736,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AMAT. Center for Financial Planning Inc. acquired a new position in shares of Applied Materials during the first quarter valued at about $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Applied Materials during the first quarter worth approximately $25,000. Disciplined Investments LLC lifted its position in shares of Applied Materials by 67.3% during the first quarter. Disciplined Investments LLC now owns 251 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. Hardy Reed LLC acquired a new position in Applied Materials in the first quarter valued at approximately $34,000. Finally, NuWave Investment Management LLC acquired a new stake in Applied Materials in the first quarter worth $36,000. Institutional investors and hedge funds own 74.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on AMAT. The Goldman Sachs Group reissued a “buy” rating and set a $109.00 price objective (up previously from $95.00) on shares of Applied Materials in a research report on Tuesday, August 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Applied Materials from $110.00 to $115.00 in a research note on Friday, August 19th. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Wednesday. Cowen reduced their target price on shares of Applied Materials from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, August 19th. Finally, Citigroup dropped their price target on shares of Applied Materials from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, August 22nd. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.38.
Applied Materials Price Performance
Applied Materials (NASDAQ:AMAT – Get Rating) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.15. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.27 billion. Applied Materials had a net margin of 26.42% and a return on equity of 56.68%. Applied Materials’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. Equities research analysts predict that Applied Materials, Inc. will post 7.68 earnings per share for the current fiscal year.
Applied Materials Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.04 annualized dividend and a yield of 1.23%. Applied Materials’s dividend payout ratio is currently 13.90%.
Insiders Place Their Bets
In other news, SVP Teri A. Little sold 15,000 shares of Applied Materials stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $86.30, for a total value of $1,294,500.00. Following the completion of the transaction, the senior vice president now owns 93,169 shares of the company’s stock, valued at approximately $8,040,484.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.
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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