New Mexico Educational Retirement Board Sells 4,200 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

New Mexico Educational Retirement Board cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,786 shares of the manufacturing equipment provider’s stock after selling 4,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Applied Materials were worth $3,493,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AMAT. Squar Milner Financial Services LLC boosted its stake in shares of Applied Materials by 190.8% during the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after purchasing an additional 458 shares during the period. Princeton Global Asset Management LLC purchased a new stake in Applied Materials in the 1st quarter valued at about $27,000. Next Capital Management LLC purchased a new stake in Applied Materials in the 2nd quarter valued at about $35,000. Sandy Spring Bank boosted its position in Applied Materials by 57.4% in the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock valued at $35,000 after buying an additional 287 shares during the period. Finally, Cable Hill Partners LLC boosted its position in Applied Materials by 378.4% in the 1st quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 632 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Shares of AMAT traded up $0.21 during mid-day trading on Thursday, hitting $47.04. The company’s stock had a trading volume of 1,361,171 shares, compared to its average volume of 8,586,455. The company’s 50-day moving average is $47.30 and its 200-day moving average is $42.65. Applied Materials, Inc. has a 52-week low of $28.79 and a 52-week high of $52.42. The firm has a market capitalization of $44.09 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 3.14 and a beta of 1.68. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The company’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 EPS. As a group, sell-side analysts predict that Applied Materials, Inc. will post 3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a dividend yield of 1.79%. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.

Several equities research analysts have issued reports on the stock. B. Riley set a $54.00 price objective on shares of Applied Materials and gave the company a “buy” rating in a research report on Friday, August 16th. Citigroup boosted their price objective on shares of Applied Materials from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday. UBS Group boosted their price objective on shares of Applied Materials from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, ValuEngine cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $51.00.

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

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