United Asset Strategies Inc. Makes New Investment in Applied Materials, Inc. (NASDAQ:AMAT)
United Asset Strategies Inc. acquired a new position in Applied Materials, Inc. (NASDAQ:AMAT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,493 shares of the manufacturing equipment provider’s stock, valued at approximately $562,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in Applied Materials by 21.7% in the 2nd quarter. Janus Henderson Group PLC now owns 470,795 shares of the manufacturing equipment provider’s stock worth $21,145,000 after acquiring an additional 83,946 shares during the last quarter. Signaturefd LLC increased its position in shares of Applied Materials by 12.4% during the 2nd quarter. Signaturefd LLC now owns 10,192 shares of the manufacturing equipment provider’s stock valued at $458,000 after purchasing an additional 1,123 shares during the last quarter. Advisor Group Inc. increased its position in shares of Applied Materials by 12.0% during the 2nd quarter. Advisor Group Inc. now owns 163,981 shares of the manufacturing equipment provider’s stock valued at $7,367,000 after purchasing an additional 17,631 shares during the last quarter. Coastal Capital Group Inc. bought a new position in shares of Applied Materials during the 2nd quarter valued at approximately $36,000. Finally, Mizuho Securities Co. Ltd. increased its position in shares of Applied Materials by 36.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 27,100 shares of the manufacturing equipment provider’s stock valued at $1,217,000 after purchasing an additional 7,220 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.
AMAT traded down $1.31 during trading hours on Wednesday, reaching $46.75. 253,919 shares of the company’s stock traded hands, compared to its average volume of 10,051,665. The company’s 50-day moving average price is $46.90. Applied Materials, Inc. has a 52-week low of $28.79 and a 52-week high of $52.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. The firm has a market capitalization of $44.14 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 2.39 and a beta of 1.68.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s payout ratio is currently 18.88%.
Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Applied Materials in a research report on Sunday, May 19th. Goldman Sachs Group downgraded Applied Materials from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Susquehanna Bancshares raised Applied Materials from a “neutral” rating to a “positive” rating and boosted their target price for the company from $34.00 to $60.00 in a research report on Wednesday, May 15th. Craig Hallum reissued a “buy” rating and set a $50.00 target price (up previously from $44.00) on shares of Applied Materials in a research report on Friday, May 17th. Finally, Cowen boosted their target price on Applied Materials from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.35.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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