Algert Global LLC raised its position in Applied Materials Inc. (NASDAQ:AMAT) by 77.3% during the third quarter, Holdings Channel reports. The firm owned 74,849 shares of the manufacturing equipment provider’s stock after buying an additional 32,624 shares during the period. Applied Materials makes up approximately 0.7% of Algert Global LLC’s portfolio, making the stock its 25th largest position. Algert Global LLC’s holdings in Applied Materials were worth $2,257,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMAT. Thompson Davis & CO. Inc. raised its position in shares of Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock worth $101,000 after buying an additional 2,418 shares during the last quarter. TLP Group LLC purchased a new position in shares of Applied Materials during the second quarter worth approximately $105,000. Clean Yield Group raised its position in shares of Applied Materials by 16.5% in the second quarter. Clean Yield Group now owns 4,950 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 700 shares during the last quarter. First PREMIER Bank purchased a new position in shares of Applied Materials during the second quarter worth approximately $120,000. Finally, Advisory Services Network LLC raised its position in shares of Applied Materials by 3.9% in the third quarter. Advisory Services Network LLC now owns 5,044 shares of the manufacturing equipment provider’s stock worth $152,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 82.20% of the company’s stock.
Shares of Applied Materials Inc. (NASDAQ:AMAT) opened at 28.64 on Wednesday. The company has a market cap of $30.96 billion, a PE ratio of 22.59 and a beta of 1.84. Applied Materials Inc. has a one year low of $15.07 and a one year high of $31.07. The stock’s 50 day moving average price is $29.81 and its 200-day moving average price is $25.09.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, analysts expect that Applied Materials Inc. will post $1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.40%. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.
A number of brokerages have commented on AMAT. Goldman Sachs Group Inc. set a $33.00 price objective on Applied Materials and gave the company a “buy” rating in a research report on Friday, August 19th. B. Riley restated a “buy” rating and issued a $27.00 price target on shares of Applied Materials in a research report on Tuesday, July 5th. RBC Capital Markets restated a “sector perform” rating and issued a $28.00 price target (up from $26.00) on shares of Applied Materials in a research report on Wednesday, August 17th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target (up from $29.00) on shares of Applied Materials in a research report on Sunday, August 21st. Finally, Cowen and Company restated an “outperform” rating and issued a $26.00 price target on shares of Applied Materials in a research report on Thursday, June 30th. Six analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $31.20.
In related news, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Omkaram Nalamasu sold 26,035 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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