New York State Teachers Retirement System boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,899,045 shares of the manufacturing equipment provider’s stock after buying an additional 65,635 shares during the period. New York State Teachers Retirement System’s holdings in Applied Materials were worth $73,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC boosted 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 Applied Materials during the first quarter worth approximately $113,000. State of Alaska Department of Revenue bought a new stake in Applied Materials during the first quarter worth approximately $114,000. James Investment Research Inc. boosted its stake 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 in the last quarter. Finally, Clean Yield Group bought a new stake in Applied Materials during the first quarter worth approximately $124,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Applied Materials, Inc. (AMAT) opened at 43.96 on Tuesday. The firm has a 50 day moving average price of $44.39 and a 200-day moving average price of $40.57. Applied Materials, Inc. has a 12 month low of $25.86 and a 12 month high of $47.86. The firm has a market capitalization of $47.24 billion, a price-to-earnings ratio of 18.18 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 44.7% compared to the same quarter last year. On average, equities analysts forecast that Applied Materials, Inc. will post $3.11 EPS for the current year.

The firm also recently announced 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 0.91%. Applied Materials’s payout ratio is 16.46%.

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A number of analysts recently commented on the company. Bank of America Corporation reiterated a “buy” rating and set a $65.00 price objective (up previously from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 price objective for the company in a research report on Thursday, June 29th. BidaskClub cut Applied Materials from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. B. Riley restated a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a report on Saturday, May 20th. Finally, Cowen and Company restated a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company 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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