Edgestream Partners L.P. Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Edgestream Partners L.P. increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2,343.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 42,254 shares of the manufacturing equipment provider’s stock after purchasing an additional 40,525 shares during the quarter. Edgestream Partners L.P.’s holdings in Applied Materials were worth $6,017,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Asahi Life Asset Management CO. LTD. purchased a new position in Applied Materials in the second quarter worth approximately $397,000. Alpha DNA Investment Management LLC grew its position in Applied Materials by 53.1% in the second quarter. Alpha DNA Investment Management LLC now owns 12,186 shares of the manufacturing equipment provider’s stock worth $1,735,000 after acquiring an additional 4,225 shares during the period. Van Leeuwen & Company LLC purchased a new position in Applied Materials in the second quarter worth approximately $1,031,000. Skandinaviska Enskilda Banken AB publ grew its position in Applied Materials by 0.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 692,409 shares of the manufacturing equipment provider’s stock worth $98,599,000 after acquiring an additional 5,504 shares during the period. Finally, Empirical Finance LLC grew its position in Applied Materials by 16.0% in the second quarter. Empirical Finance LLC now owns 11,338 shares of the manufacturing equipment provider’s stock worth $1,615,000 after acquiring an additional 1,568 shares during the period. Institutional investors own 75.37% of the company’s stock.

Applied Materials stock opened at $139.44 on Tuesday. Applied Materials, Inc. has a 1-year low of $54.15 and a 1-year high of $146.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.98 and a quick ratio of 2.17. The stock has a market cap of $125.90 billion, a PE ratio of 24.25, a P/E/G ratio of 1.03 and a beta of 1.44. The stock’s fifty day moving average is $135.17 and its two-hundred day moving average is $131.96.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.13. Applied Materials had a return on equity of 49.27% and a net margin of 24.54%. The company had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the firm earned $1.06 earnings per share. On average, research analysts expect that Applied Materials, Inc. will post 6.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Friday, November 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, November 24th. Applied Materials’s payout ratio is 23.02%.

In other Applied Materials news, CFO Daniel Durn sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $143.76, for a total transaction of $862,560.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ginetto Addiego sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $134.83, for a total value of $5,393,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,500 shares of company stock worth $16,042,275. Corporate insiders own 0.37% of the company’s stock.

A number of research firms have commented on AMAT. Daiwa Capital Markets began coverage on Applied Materials in a research note on Thursday, August 19th. They set an “outperform” rating and a $140.00 price target on the stock. Morgan Stanley upped their price target on Applied Materials from $139.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, August 20th. Mizuho upped their price target on Applied Materials from $158.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, August 20th. Susquehanna Bancshares upped their price target on Applied Materials from $155.00 to $170.00 and gave the stock a “positive” rating in a research note on Friday, May 21st. Finally, Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a research note on Tuesday, May 25th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Applied Materials has an average rating of “Buy” and a consensus price target of $153.22.

About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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

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