Applied Materials, Inc. (AMAT) Position Lessened by Stevens Capital Management LP
Stevens Capital Management LP decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 67.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,894 shares of the manufacturing equipment provider’s stock after selling 38,277 shares during the period. Stevens Capital Management LP’s holdings in Applied Materials were worth $873,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in AMAT. Global X Management Co. LLC increased its position in Applied Materials by 12.7% during the 1st quarter. Global X Management Co. LLC now owns 15,040 shares of the manufacturing equipment provider’s stock valued at $836,000 after buying an additional 1,696 shares in the last quarter. HL Financial Services LLC increased its position in Applied Materials by 5.1% during the 1st quarter. HL Financial Services LLC now owns 96,742 shares of the manufacturing equipment provider’s stock valued at $5,380,000 after buying an additional 4,730 shares in the last quarter. FDx Advisors Inc. increased its position in Applied Materials by 56.2% during the 1st quarter. FDx Advisors Inc. now owns 14,076 shares of the manufacturing equipment provider’s stock valued at $782,000 after buying an additional 5,067 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Applied Materials during the 1st quarter valued at approximately $3,403,000. Finally, Howland Capital Management LLC bought a new position in Applied Materials during the 1st quarter valued at approximately $439,000. 75.38% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on AMAT shares. BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Craig Hallum reduced their target price on Applied Materials from $76.00 to $65.00 and set a “buy” rating for the company in a report on Friday, May 18th. They noted that the move was a valuation call. Deutsche Bank set a $65.00 target price on Applied Materials and gave the stock a “buy” rating in a report on Friday, May 18th. Stifel Nicolaus lifted their target price on Applied Materials from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 18th. Finally, B. Riley reduced their target price on Applied Materials from $77.00 to $70.00 and set a “buy” rating for the company in a report on Friday, May 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Applied Materials has a consensus rating of “Buy” and a consensus price target of $61.84.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Applied Materials’s revenue was up 19.3% compared to the same quarter last year. equities research analysts predict that Applied Materials, Inc. will post 4.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 22nd. This represents a $0.80 annualized dividend and a yield of 1.85%. Applied Materials’s dividend payout ratio (DPR) is presently 24.62%.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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