Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Wright Investors Service Inc.

Wright Investors Service Inc. boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 55,467 shares of the manufacturing equipment provider’s stock after buying an additional 539 shares during the quarter. Wright Investors Service Inc.’s holdings in Applied Materials were worth $2,491,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AMAT. Squar Milner Financial Services LLC grew its position in Applied Materials by 190.8% during the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after purchasing an additional 458 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Applied Materials during the 1st quarter worth approximately $27,000. Horan Capital Advisors LLC. purchased a new position in Applied Materials during the 1st quarter worth approximately $31,000. Cable Hill Partners LLC grew its position in Applied Materials by 378.4% during the 1st quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 632 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new position in Applied Materials during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Shares of AMAT stock traded up $0.32 on Thursday, hitting $47.04. The company’s stock had a trading volume of 2,932,572 shares, compared to its average volume of 8,919,568. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. Applied Materials, Inc. has a fifty-two week low of $28.79 and a fifty-two week high of $52.42. The firm’s fifty day moving average price is $46.99. The firm has a market cap of $43.49 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 2.35 and a beta of 1.68.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the previous year, the business earned $1.22 EPS. Applied Materials’s quarterly revenue was down 22.7% compared to the same quarter last year. As a group, equities analysts predict that Applied Materials, Inc. will post 2.96 EPS for the current fiscal year.

The firm also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s payout ratio is presently 18.88%.

Several equities analysts have weighed in on AMAT shares. DA Davidson cut shares of Applied Materials from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $45.00 in a research report on Monday, July 8th. Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, June 4th. Citigroup lifted their target price on shares of Applied Materials from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. UBS Group lifted their target price on shares of Applied Materials from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus set a $57.00 target price on shares of Applied Materials and gave the company a “buy” rating in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average 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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