Redmond Asset Management LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,452 shares of the manufacturing equipment provider’s stock after selling 1,208 shares during the quarter. Redmond Asset Management LLC’s holdings in Applied Materials were worth $1,772,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Applied Materials by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,539,478 shares of the manufacturing equipment provider’s stock worth $115,882,000 after buying an additional 211,654 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 worth $459,453,000 after buying an additional 794,347 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in Applied Materials by 6.8% during the first quarter. Flagship Harbor Advisors LLC now owns 4,706 shares of the manufacturing equipment provider’s stock worth $186,000 after buying an additional 298 shares during the last quarter. Pennsylvania Trust Co increased its holdings in Applied Materials by 11.4% during the first quarter. Pennsylvania Trust Co now owns 8,532 shares of the manufacturing equipment provider’s stock worth $455,000 after buying an additional 871 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Applied Materials during the first quarter worth $297,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Applied Materials stock traded up $0.31 during trading on Thursday, reaching $47.02. The company’s stock had a trading volume of 2,644,873 shares, compared to its average volume of 8,919,568. The firm’s 50-day moving average price is $46.99. The firm has a market capitalization of $43.49 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 2.35 and a beta of 1.68. Applied Materials, Inc. has a 52 week low of $28.79 and a 52 week 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.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.84 annualized dividend and a yield of 1.79%. Applied Materials’s dividend payout ratio is 18.88%.
Several equities analysts have commented on the stock. Wells Fargo & Co reiterated an “outperform” rating on shares of Applied Materials in a report on Thursday, June 20th. Cowen set a $53.00 price objective on shares of Applied Materials and gave the company a “buy” rating in a report on Monday. DA Davidson downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $45.00 in a report on Monday, July 8th. Nomura assumed coverage on shares of Applied Materials in a report on Friday, June 7th. They issued a “neutral” rating and a $40.00 price objective on the stock. Finally, Goldman Sachs Group downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus 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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