Moors & Cabot Inc. reduced its position in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 42.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,912 shares of the manufacturing equipment provider’s stock after selling 8,761 shares during the quarter. Moors & Cabot Inc.’s holdings in Applied Materials were worth $1,722,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Financial Freedom LLC acquired a new stake in Applied Materials in the 4th quarter valued at $25,000. Chelsea Counsel Co. bought a new position in shares of Applied Materials during the first quarter valued at $28,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Applied Materials in the 2nd quarter valued at $29,000. Steward Financial Group LLC grew its holdings in shares of Applied Materials by 173.9% in the 1st quarter. Steward Financial Group LLC now owns 252 shares of the manufacturing equipment provider’s stock worth $30,000 after purchasing an additional 160 shares during the last quarter. Finally, M&R Capital Management Inc. increased its position in shares of Applied Materials by 110.0% during the 2nd quarter. M&R Capital Management Inc. now owns 210 shares of the manufacturing equipment provider’s stock worth $30,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group raised their price target on Applied Materials from $135.00 to $155.00 and gave the company a “buy” rating in a report on Monday, August 21st. Susquehanna upped their price target on shares of Applied Materials from $112.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, August 21st. Berenberg Bank boosted their target price on shares of Applied Materials from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Needham & Company LLC raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Friday, October 13th. Finally, Bank of America boosted their price objective on shares of Applied Materials from $165.00 to $175.00 in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.59.
Applied Materials Stock Up 0.9 %
Shares of NASDAQ:AMAT traded up $1.47 during midday trading on Thursday, reaching $156.84. 855,075 shares of the company were exchanged, compared to its average volume of 5,904,346. The firm has a market cap of $131.67 billion, a PE ratio of 20.50, a P/E/G ratio of 3.66 and a beta of 1.59. The company has a quick ratio of 1.59, a current ratio of 2.30 and a debt-to-equity ratio of 0.36. Applied Materials, Inc. has a fifty-two week low of $93.68 and a fifty-two week high of $157.76. The stock has a fifty day simple moving average of $139.98 and a two-hundred day simple moving average of $138.59.
Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.16. Applied Materials had a return on equity of 49.29% and a net margin of 24.27%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter last year, the firm earned $1.94 EPS. Applied Materials’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 7.9 earnings per share for the current year.
Applied Materials Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 16.89%.
Insiders Place Their Bets
In related news, CFO Brice Hill sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $150.04, for a total value of $150,040.00. Following the completion of the transaction, the chief financial officer now directly owns 106,023 shares of the company’s stock, valued at $15,907,690.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc engages in the provision of 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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