Panagora Asset Management Inc. lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,123 shares of the manufacturing equipment provider’s stock after selling 1,570 shares during the quarter. Panagora Asset Management Inc.’s holdings in Applied Materials were worth $1,443,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new position in shares of Applied Materials during the first quarter worth approximately $27,000. Cable Hill Partners LLC boosted its stake in shares of Applied Materials by 378.4% in the first quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 632 shares during the period. Front Row Advisors LLC boosted its stake in shares of Applied Materials by 283.6% in the first quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 607 shares during the period. Sandy Spring Bank grew its position in Applied Materials by 57.4% during the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after buying an additional 287 shares in the last quarter. Finally, Next Capital Management LLC acquired a new stake in Applied Materials during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 79.88% of the company’s stock.

In other Applied Materials news, Director Dennis D. Powell sold 25,218 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 3,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total value of $138,000.00. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

NASDAQ AMAT traded up $0.80 during trading on Wednesday, hitting $50.99. 1,183,148 shares of the company’s stock were exchanged, compared to its average volume of 7,766,748. The company has a market cap of $46.27 billion, a PE ratio of 11.46, a P/E/G ratio of 3.38 and a beta of 1.66. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a fifty-two week low of $28.79 and a fifty-two week high of $52.42. The stock’s 50 day moving average price is $48.06 and its two-hundred day moving average price is $43.48.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. Analysts forecast that Applied Materials, Inc. will post 3 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. Applied Materials’s dividend payout ratio is currently 18.88%.

Several brokerages have weighed in on AMAT. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, June 4th. Susquehanna Bancshares set a $60.00 target price on Applied Materials and gave the stock a “buy” rating in a report on Friday, August 16th. Citigroup raised their price target on Applied Materials from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Stifel Nicolaus set a $57.00 price target on Applied Materials and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, Deutsche Bank boosted their price target on Applied Materials from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $51.00.

About Applied Materials

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

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