Regent Investment Management LLC trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,535 shares of the manufacturing equipment provider’s stock after selling 500 shares during the quarter. Regent Investment Management LLC’s holdings in Applied Materials were worth $516,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in AMAT. Bainco International Investors acquired a new position in shares of Applied Materials in the 1st quarter valued at $27,000. Verus Capital Partners LLC increased its holdings in shares of Applied Materials by 500.0% in the 1st quarter. Verus Capital Partners LLC now owns 600 shares of the manufacturing equipment provider’s stock valued at $27,000 after acquiring an additional 500 shares during the period. Liberty Wealth Management LLC increased its holdings in shares of Applied Materials by 770.1% in the 1st quarter. Liberty Wealth Management LLC now owns 670 shares of the manufacturing equipment provider’s stock valued at $31,000 after acquiring an additional 593 shares during the period. Lenox Wealth Management Inc. acquired a new position in Applied Materials in the 1st quarter valued at $33,000. Finally, Golden State Wealth Management LLC acquired a new position in Applied Materials in the 1st quarter valued at $35,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on AMAT shares. Barclays boosted their price objective on shares of Applied Materials from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Cfra dropped their price objective on shares of Applied Materials from $68.00 to $60.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Zacks Investment Research cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a research note on Tuesday, June 23rd. DA Davidson boosted their price objective on shares of Applied Materials from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Stifel Nicolaus boosted their price objective on shares of Applied Materials from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.50.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.02). Applied Materials had a net margin of 18.89% and a return on equity of 37.13%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period last year, the business earned $0.70 EPS. On average, equities analysts anticipate that Applied Materials, Inc. will post 3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 19th. Applied Materials’s dividend payout ratio (DPR) is 28.95%.
In other Applied Materials news, Director Alexander Karsner sold 3,467 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $60.50, for a total value of $209,753.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by company insiders.
Applied Materials Company Profile
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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