Transcend Capital Advisors LLC Has $267,000 Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Transcend Capital Advisors LLC cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 9.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,934 shares of the manufacturing equipment provider’s stock after selling 289 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Applied Materials were worth $267,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Applied Materials during the 4th quarter worth about $1,146,885,000. Capital World Investors raised its stake in shares of Applied Materials by 21.5% during the 1st quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock worth $4,461,584,000 after purchasing an additional 5,980,777 shares in the last quarter. Cowa LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth about $76,000. Capital International Investors raised its stake in shares of Applied Materials by 10.5% during the 4th quarter. Capital International Investors now owns 23,268,369 shares of the manufacturing equipment provider’s stock worth $3,661,525,000 after purchasing an additional 2,209,223 shares in the last quarter. Finally, Egerton Capital UK LLP purchased a new stake in shares of Applied Materials during the 1st quarter worth about $263,732,000. 74.99% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $87.09 on Thursday. Applied Materials, Inc. has a 1-year low of $82.67 and a 1-year high of $167.06. The firm has a market capitalization of $74.92 billion, a PE ratio of 11.64, a PEG ratio of 1.58 and a beta of 1.53. The business’s 50 day moving average is $99.33 and its 200-day moving average is $107.67. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Applied Materials (NASDAQ:AMATGet Rating) last announced its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.79 by $0.15. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.27 billion. Applied Materials had a return on equity of 56.68% and a net margin of 26.42%. Applied Materials’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. Sell-side analysts predict that Applied Materials, Inc. will post 7.68 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 23rd. Applied Materials’s dividend payout ratio is 13.90%.

Analysts Set New Price Targets

AMAT has been the subject of a number of recent research reports. Barclays cut their price target on Applied Materials from $125.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, July 25th. JPMorgan Chase & Co. cut their price objective on Applied Materials from $158.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 19th. Mizuho cut their price objective on Applied Materials from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, August 19th. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Craig Hallum cut their price objective on Applied Materials from $145.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, August 19th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.38.

Insider Activity at Applied Materials

In related news, SVP Teri A. Little sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $86.30, for a total value of $1,294,500.00. Following the sale, 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 available through this link. 0.30% of the stock is owned by insiders.

Applied Materials Profile

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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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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