Perigon Wealth Management LLC boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 27.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,720 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,874 shares during the period. Perigon Wealth Management LLC’s holdings in Applied Materials were worth $527,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of AMAT. Bainco International Investors acquired a new position in Applied Materials in the first quarter valued at approximately $27,000. Verus Capital Partners LLC lifted its stake in 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 in the last quarter. Liberty Wealth Management LLC lifted its position in Applied Materials by 770.1% during the 1st quarter. Liberty Wealth Management LLC now owns 670 shares of the manufacturing equipment provider’s stock worth $31,000 after buying an additional 593 shares in the last quarter. Lenox Wealth Management Inc. bought a new stake in shares of Applied Materials in the 1st quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in Applied Materials in the 1st quarter valued at about $35,000. 78.98% of the stock is owned by institutional investors and hedge funds.
In other news, Director Alexander Karsner sold 20,027 shares of Applied Materials stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $60.43, for a total transaction of $1,210,231.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the company posted $0.70 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post 3.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Wednesday, August 19th. Applied Materials’s payout ratio is 28.95%.
Several research analysts have recently commented on the company. Cowen lifted their target price on Applied Materials from $60.00 to $72.00 in a research note on Friday, May 15th. Mizuho boosted their price objective on Applied Materials from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. UBS Group increased their price objective on shares of Applied Materials from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Morgan Stanley boosted their target price on shares of Applied Materials from $52.50 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 16th. Finally, B. Riley upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $72.00 in a research report on Friday, May 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $68.50.
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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