Sciencast Management LP Purchases Shares of 10,962 Applied Materials, Inc. (NASDAQ:AMAT)

Sciencast Management LP purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 10,962 shares of the manufacturing equipment provider’s stock, valued at approximately $677,000.

A number of other institutional investors and hedge funds have also modified their holdings of AMAT. Financial Management Professionals Inc. acquired a new position in Applied Materials in the 2nd quarter worth approximately $45,000. Csenge Advisory Group bought a new position in Applied Materials in the 1st quarter worth $245,000. Verus Capital Partners LLC raised its holdings 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 worth $27,000 after acquiring an additional 500 shares during the period. CENTRAL TRUST Co raised its holdings in Applied Materials by 88.0% in the 1st quarter. CENTRAL TRUST Co now owns 26,451 shares of the manufacturing equipment provider’s stock worth $1,212,000 after acquiring an additional 12,380 shares during the period. Finally, Primecap Management Co. CA raised its holdings in Applied Materials by 15.9% in the 1st quarter. Primecap Management Co. CA now owns 5,768,635 shares of the manufacturing equipment provider’s stock worth $264,319,000 after acquiring an additional 790,000 shares during the period. Institutional investors own 78.98% of the company’s stock.

In other news, Director Alexander Karsner sold 3,467 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by corporate insiders.

Several research analysts recently commented on the stock. DA Davidson lifted their target price on shares of Applied Materials from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Barclays raised their price target on shares of Applied Materials from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Mizuho raised their price target on shares of Applied Materials from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. ValuEngine lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, June 3rd. Finally, UBS Group raised their price target on shares of Applied Materials from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $68.50.

Shares of NASDAQ:AMAT opened at $64.33 on Friday. Applied Materials, Inc. has a 52 week low of $36.64 and a 52 week high of $69.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.89 and a current ratio of 2.67. The company has a market capitalization of $59.04 billion, a PE ratio of 20.49, a PEG ratio of 1.24 and a beta of 1.40. The company has a 50 day moving average price of $61.01 and a two-hundred day moving average price of $56.53.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results 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). The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.20 billion. Applied Materials had a net margin of 18.89% and a return on equity of 37.13%. During the same quarter last year, the company earned $0.70 EPS. On average, sell-side analysts forecast that Applied Materials, Inc. will post 3.81 earnings per share for the current 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 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Wednesday, August 19th. Applied Materials’s dividend payout ratio (DPR) is presently 28.95%.

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

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