Psagot Investment House Ltd. cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 85.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 622 shares of the manufacturing equipment provider’s stock after selling 3,728 shares during the quarter. Psagot Investment House Ltd.’s holdings in Applied Materials were worth $28,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Squar Milner Financial Services LLC increased its stake in Applied Materials by 190.8% during the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after acquiring an additional 458 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Applied Materials during the first quarter worth about $27,000. Horan Capital Advisors LLC. acquired a new stake in Applied Materials during the first quarter worth about $31,000. Cable Hill Partners LLC increased its stake in Applied Materials by 378.4% during the first quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after acquiring an additional 632 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new stake in Applied Materials during the first quarter worth about $33,000. Institutional investors own 77.63% of the company’s stock.
Several brokerages have commented on AMAT. Nomura began coverage on Applied Materials in a research note on Friday, June 7th. They set a “neutral” rating and a $40.00 price target for the company. Wells Fargo & Co restated an “outperform” rating on shares of Applied Materials in a research note on Thursday, June 20th. BidaskClub lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday. Susquehanna Bancshares upgraded Applied Materials from a “neutral” rating to a “positive” rating and increased their target price for the company from $34.00 to $60.00 in a research note on Wednesday, May 15th. Finally, Bank of America reiterated a “neutral” rating and issued a $52.00 target price (up previously from $45.00) on shares of Applied Materials in a research note on Friday, May 17th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $50.35.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. Applied Materials’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. Research analysts forecast that Applied Materials, Inc. will post 2.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s dividend payout ratio is currently 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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