Buckingham Capital Management Inc. trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,135 shares of the manufacturing equipment provider’s stock after selling 9,615 shares during the period. Buckingham Capital Management Inc.’s holdings in Applied Materials were worth $3,476,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Applied Materials by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock valued at $2,853,797,000 after buying an additional 2,441,471 shares during the last quarter. BlackRock Inc. grew its holdings in Applied Materials by 2,063.7% in the 1st quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after buying an additional 63,912,660 shares during the last quarter. FMR LLC grew its holdings in Applied Materials by 16.8% in the 1st quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in Applied Materials by 7.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 13,751,324 shares of the manufacturing equipment provider’s stock valued at $568,067,000 after buying an additional 973,818 shares during the last quarter. Finally, Egerton Capital UK LLP grew its holdings in Applied Materials by 18.0% in the 2nd quarter. Egerton Capital UK LLP now owns 13,734,934 shares of the manufacturing equipment provider’s stock valued at $567,390,000 after buying an additional 2,092,326 shares during the last quarter. 79.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Applied Materials, Inc. (AMAT) traded down 0.39% during trading on Tuesday, reaching $45.40. The company’s stock had a trading volume of 2,912,677 shares. Applied Materials, Inc. has a 52-week low of $27.56 and a 52-week high of $47.86. The company has a market cap of $48.42 billion, a PE ratio of 16.14 and a beta of 1.81. The firm’s 50-day moving average is $44.29 and its 200 day moving average is $42.34.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The company’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. On average, equities research analysts predict that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is presently 14.18%.
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A number of research firms have issued reports on AMAT. UBS AG reaffirmed a “buy” rating and issued a $51.00 target price (up previously from $44.00) on shares of Applied Materials in a report on Wednesday, May 17th. B. Riley reaffirmed a “buy” rating and issued a $44.00 target price on shares of Applied Materials in a report on Monday, May 15th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price on the stock in a report on Thursday, August 10th. Zacks Investment Research lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Finally, Credit Suisse Group raised their target price on Applied Materials from $5.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $51.44.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.
About Applied Materials
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