Eagle Asset Management Inc. Acquires 173 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Eagle Asset Management Inc. increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,079 shares of the manufacturing equipment provider’s stock after buying an additional 173 shares during the period. Eagle Asset Management Inc.’s holdings in Applied Materials were worth $11,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Gleason Group Inc. raised its stake in Applied Materials by 124.5% in the second quarter. Gleason Group Inc. now owns 229 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Cypress Point Wealth Management LLC bought a new position in Applied Materials in the second quarter worth approximately $36,000. Twin Lakes Capital Management LLC bought a new position in Applied Materials in the first quarter worth approximately $40,000. Sargent Bickham Lagudis LLC raised its stake in Applied Materials by 190.5% in the first quarter. Sargent Bickham Lagudis LLC now owns 305 shares of the manufacturing equipment provider’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in Applied Materials by 70.6% in the second quarter. North Star Investment Management Corp. now owns 290 shares of the manufacturing equipment provider’s stock worth $41,000 after buying an additional 120 shares in the last quarter. 75.37% of the stock is owned by institutional investors.

In other Applied Materials news, CFO Daniel Durn sold 5,000 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $134.59, for a total value of $672,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ginetto Addiego sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $134.83, for a total transaction of $5,393,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,500 shares of company stock valued at $16,042,275. Insiders own 0.37% of the company’s stock.

AMAT opened at $138.10 on Thursday. Applied Materials, Inc. has a twelve month low of $56.65 and a twelve month high of $146.00. The company has a quick ratio of 2.17, a current ratio of 2.98 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $135.71 and a 200 day moving average price of $133.00. The company has a market cap of $124.69 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.13. Applied Materials had a net margin of 24.54% and a return on equity of 49.27%. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, sell-side analysts expect that Applied Materials, Inc. will post 6.84 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Friday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 24th. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. Applied Materials’s dividend payout ratio (DPR) is presently 23.02%.

A number of equities analysts have recently issued reports on the company. Daiwa Capital Markets assumed coverage on Applied Materials in a research report on Thursday, August 19th. They set an “outperform” rating and a $140.00 price target on the stock. Susquehanna Bancshares downgraded Applied Materials from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $160.00 in a research report on Tuesday, September 14th. Mizuho upped their price target on Applied Materials from $158.00 to $161.00 and gave the stock a “buy” rating in a research report on Friday, August 20th. Susquehanna downgraded Applied Materials from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $160.00 in a research report on Tuesday, September 14th. Finally, Morgan Stanley upped their price target on Applied Materials from $139.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, August 20th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $152.85.

About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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

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