Biechele Royce Advisors lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,321 shares of the manufacturing equipment provider’s stock after selling 13,339 shares during the quarter. Applied Materials accounts for approximately 5.8% of Biechele Royce Advisors’ investment portfolio, making the stock its 2nd largest position. Biechele Royce Advisors’ holdings in Applied Materials were worth $9,268,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bainco International Investors bought a new stake in shares of Applied Materials in the 1st quarter valued at about $27,000. Verus Capital Partners LLC lifted its stake in shares of Applied Materials by 500.0% in the first quarter. Verus Capital Partners LLC now owns 600 shares of the manufacturing equipment provider’s stock worth $27,000 after acquiring an additional 500 shares during the period. Liberty Wealth Management LLC lifted its stake in shares of Applied Materials by 770.1% in the first quarter. Liberty Wealth Management LLC now owns 670 shares of the manufacturing equipment provider’s stock worth $31,000 after acquiring an additional 593 shares during the period. Lenox Wealth Management Inc. bought a new stake in Applied Materials in the first quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in Applied Materials during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 78.98% of the company’s stock.
A number of research firms have recently commented on AMAT. Cfra reduced their price objective on shares of Applied Materials from $68.00 to $60.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Mizuho increased their price target on Applied Materials from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. DA Davidson lifted their price objective on Applied Materials from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Deutsche Bank upped their target price on Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Barclays raised their target price on Applied Materials from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.50.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $4.20 billion. Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. During the same period in the prior year, the firm posted $0.70 earnings per share. On average, analysts anticipate that Applied Materials, Inc. will post 3.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 19th. Applied Materials’s payout ratio is currently 28.95%.
In other Applied Materials news, Director Alexander Karsner sold 3,467 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $60.50, for a total transaction of $209,753.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.
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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