TCTC Holdings LLC acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 825 shares of the manufacturing equipment provider’s stock, valued at approximately $50,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Parnassus Investments CA boosted its position in Applied Materials by 158.4% in the first quarter. Parnassus Investments CA now owns 13,693,901 shares of the manufacturing equipment provider’s stock valued at $627,455,000 after buying an additional 8,393,901 shares during the last quarter. Cantillon Capital Management LLC lifted its holdings in Applied Materials by 62.7% in the second quarter. Cantillon Capital Management LLC now owns 3,968,872 shares of the manufacturing equipment provider’s stock valued at $239,919,000 after acquiring an additional 1,529,635 shares during the period. Bank of New York Mellon Corp lifted its holdings in Applied Materials by 9.3% in the first quarter. Bank of New York Mellon Corp now owns 17,861,988 shares of the manufacturing equipment provider’s stock valued at $818,438,000 after acquiring an additional 1,515,901 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Applied Materials by 64.2% in the first quarter. Pictet Asset Management Ltd. now owns 3,857,993 shares of the manufacturing equipment provider’s stock valued at $176,773,000 after acquiring an additional 1,508,494 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Applied Materials by 9.3% in the first quarter. Nuveen Asset Management LLC now owns 14,977,988 shares of the manufacturing equipment provider’s stock valued at $686,292,000 after acquiring an additional 1,269,297 shares during the period. Hedge funds and other institutional investors own 79.23% of the company’s stock.
A number of research analysts have issued reports on AMAT shares. Barclays boosted their price target on Applied Materials from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. KeyCorp boosted their price target on Applied Materials from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, August 14th. BidaskClub downgraded Applied Materials from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. DA Davidson boosted their price target on Applied Materials from $55.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Finally, Susquehanna Bancshares boosted their price target on Applied Materials from $74.00 to $85.00 in a report on Friday, August 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $73.38.
NASDAQ:AMAT remained flat at $$61.60 during trading hours on Tuesday. The company’s stock had a trading volume of 94,722 shares, compared to its average volume of 7,809,974. The company has a current ratio of 2.86, a quick ratio of 1.94 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $63.76 and its 200-day moving average price is $56.96. The firm has a market capitalization of $57.60 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.10 and a beta of 1.40. Applied Materials, Inc. has a 12 month low of $36.64 and a 12 month high of $69.90.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 13th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Applied Materials had a return on equity of 38.81% and a net margin of 19.58%. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts expect that Applied Materials, Inc. will post 4.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.43%. Applied Materials’s payout ratio is currently 28.95%.
In other Applied Materials news, Director Alexander Karsner sold 20,027 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $60.43, for a total value of $1,210,231.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.
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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