Silvercrest Asset Management Group LLC bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the 2nd quarter, Holdings Channel.com reports. The firm bought 4,733 shares of the manufacturing equipment provider’s stock, valued at approximately $213,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMAT. Princeton Global Asset Management LLC bought a new stake in Applied Materials in the 1st quarter valued at approximately $27,000. Cable Hill Partners LLC increased its position in shares of Applied Materials by 378.4% during the 1st quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 632 shares during the last quarter. Front Row Advisors LLC increased its position in shares of Applied Materials by 283.6% during the 1st quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 607 shares during the last quarter. Sandy Spring Bank increased its position in shares of Applied Materials by 57.4% during the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after purchasing an additional 287 shares during the last quarter. Finally, Next Capital Management LLC acquired a new position in shares of Applied Materials during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Several research analysts have weighed in on AMAT shares. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, June 4th. KeyCorp lowered their price target on Applied Materials from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Wells Fargo & Co reaffirmed a “positive” rating and set a $58.00 price target (up previously from $52.00) on shares of Applied Materials in a research report on Wednesday. ValuEngine lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank boosted their price target on Applied Materials from $44.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $51.48.
Shares of AMAT stock traded down $0.72 during trading on Friday, reaching $50.96. 8,918,516 shares of the company’s stock were exchanged, compared to its average volume of 6,729,530. The company has a quick ratio of 1.72, a current ratio of 2.65 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $48.12 billion, a PE ratio of 11.45, a PEG ratio of 3.48 and a beta of 1.66. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $52.62. The firm’s fifty day moving average price is $48.15 and its 200-day moving average price is $44.03.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The firm’s revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. As a group, analysts anticipate that Applied Materials, Inc. will post 3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, November 20th. Applied Materials’s payout ratio is presently 18.88%.
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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