Bailard Inc. purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 78,833 shares of the manufacturing equipment provider’s stock, valued at approximately $3,067,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Reilly Financial Advisors LLC raised its stake in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares in the last quarter. Pinnacle Bank bought a new stake in shares of Applied Materials during the first quarter worth approximately $113,000. State of Alaska Department of Revenue acquired a new position in Applied Materials during the first quarter worth about $114,000. James Investment Research Inc. increased its position in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the last quarter. Finally, Clean Yield Group acquired a new position in Applied Materials during the first quarter worth about $124,000. Institutional investors own 80.06% of the company’s stock.

Applied Materials, Inc. (NASDAQ AMAT) traded down 0.07% on Thursday, reaching $42.70. The company’s stock had a trading volume of 11,474,713 shares. Applied Materials, Inc. has a 52 week low of $25.86 and a 52 week high of $47.86. The firm’s 50 day moving average price is $44.39 and its 200-day moving average price is $40.57. The company has a market capitalization of $45.89 billion, a price-to-earnings ratio of 17.72 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. On average, equities analysts predict that Applied Materials, Inc. will post $3.11 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.94%. Applied Materials’s dividend payout ratio is 16.46%.

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A number of equities analysts recently issued reports on AMAT shares. Stifel Nicolaus raised their price objective on shares of Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Sunday, May 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Applied Materials in a report on Friday, May 19th. UBS AG reiterated a “buy” rating and set a $51.00 price objective (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Instinet reiterated a “buy” rating and set a $47.00 price objective (up previously from $40.00) on shares of Applied Materials in a research report on Sunday, May 21st. Finally, Needham & Company LLC boosted their price objective on shares of Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.62.

About Applied Materials

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

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