Mengis Capital Management Inc. Takes $222,000 Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mengis Capital Management Inc. purchased a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,953 shares of the manufacturing equipment provider’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also modified their holdings of AMAT. FMR LLC lifted its position in Applied Materials by 16.3% in the first quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock valued at $1,032,245,000 after purchasing an additional 3,656,960 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Applied Materials by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after buying an additional 794,347 shares during the period. American Century Companies Inc. increased its stake in shares of Applied Materials by 5.0% during the first quarter. American Century Companies Inc. now owns 13,190,671 shares of the manufacturing equipment provider’s stock valued at $523,142,000 after buying an additional 627,763 shares during the period. Northern Trust Corp increased its stake in shares of Applied Materials by 1.5% during the first quarter. Northern Trust Corp now owns 12,190,745 shares of the manufacturing equipment provider’s stock valued at $483,486,000 after buying an additional 181,920 shares during the period. Finally, LSV Asset Management increased its stake in shares of Applied Materials by 1.8% during the first quarter. LSV Asset Management now owns 8,253,978 shares of the manufacturing equipment provider’s stock valued at $327,352,000 after buying an additional 148,600 shares during the period. Hedge funds and other institutional investors own 77.58% of the company’s stock.

Several equities analysts have recently issued reports on AMAT shares. BidaskClub cut YY from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. B. Riley set a $2.00 target price on Ascena Retail Group and gave the company a “hold” rating in a research note on Friday, May 17th. Susquehanna Bancshares started coverage on MKS Instruments in a research note on Wednesday, May 15th. They set a “positive” rating and a $123.00 target price on the stock. Zacks Investment Research raised Investar from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, June 4th. Finally, Citigroup set a $8.00 target price on Diamond Offshore Drilling and gave the company a “sell” rating in a research note on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $50.52.

Shares of AMAT stock opened at $50.13 on Wednesday. The stock has a market capitalization of $47.50 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 2.57 and a beta of 1.69. The business has a fifty day moving average price of $45.43. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $52.42. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.77 and a current ratio of 2.79.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, equities research analysts predict that Applied Materials, Inc. will post 2.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a yield of 1.68%. Applied Materials’s payout ratio is 18.88%.

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

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