Perigon Wealth Management LLC boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 27.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,720 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,874 shares during the period. Perigon Wealth Management LLC’s holdings in Applied Materials were worth $527,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in AMAT. M&T Bank Corp lifted its position in shares of Applied Materials by 0.9% during the 2nd quarter. M&T Bank Corp now owns 318,339 shares of the manufacturing equipment provider’s stock valued at $19,244,000 after buying an additional 2,775 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Applied Materials by 11.8% during the 2nd quarter. Koshinski Asset Management Inc. now owns 53,785 shares of the manufacturing equipment provider’s stock worth $3,251,000 after acquiring an additional 5,680 shares during the period. Trust Co. of Virginia VA bought a new stake in Applied Materials during the 2nd quarter worth approximately $242,000. Hoylecohen LLC lifted its holdings in Applied Materials by 1.6% during the second quarter. Hoylecohen LLC now owns 50,733 shares of the manufacturing equipment provider’s stock valued at $3,067,000 after purchasing an additional 775 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of Applied Materials in the second quarter worth approximately $677,000. 78.98% of the stock is owned by institutional investors and hedge funds.
In related news, Director Alexander Karsner sold 3,467 shares of the business’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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.
A number of research firms recently weighed in on AMAT. B. Riley upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and lifted their target price for the company from $56.00 to $72.00 in a research note on Friday, May 15th. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a research report on Tuesday, June 23rd. Wells Fargo & Co increased their target price on Applied Materials from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. BidaskClub raised Applied Materials from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Finally, KeyCorp restated a “buy” rating and issued a $76.00 price target on shares of Applied Materials in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Applied Materials currently has an average rating of “Buy” and an average target price of $68.50.
AMAT opened at $64.33 on Friday. The firm has a market capitalization of $59.04 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.67 and a quick ratio of 1.89. The business’s 50-day moving average is $61.01 and its two-hundred day moving average is $56.53. Applied Materials, Inc. has a 1 year low of $36.64 and a 1 year high of $69.44.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the firm earned $0.70 EPS. As a group, sell-side analysts expect that Applied Materials, Inc. will post 3.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. Applied Materials’s dividend payout ratio is presently 28.95%.
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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