Parametric Portfolio Associates LLC Raises Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Parametric Portfolio Associates LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,630,808 shares of the manufacturing equipment provider’s stock after acquiring an additional 287,116 shares during the period. Parametric Portfolio Associates LLC owned 0.39% of Applied Materials worth $163,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in shares of Applied Materials in the 1st quarter valued at $27,000. Cable Hill Partners LLC boosted its position in shares of 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 during the period. Front Row Advisors LLC increased its holdings in Applied Materials by 283.6% in the 1st quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 607 shares during the last quarter. Sandy Spring Bank increased its holdings in Applied Materials by 57.4% in the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock valued at $35,000 after purchasing an additional 287 shares during the last quarter. Finally, Next Capital Management LLC acquired a new position in Applied Materials during the second quarter worth $35,000. 79.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:AMAT traded up $1.25 on Wednesday, hitting $51.44. 507,765 shares of the company’s stock were exchanged, compared to its average volume of 7,766,748. The firm’s 50-day moving average is $48.06 and its 200 day moving average is $43.48. The company has a market capitalization of $46.27 billion, a PE ratio of 11.57, a P/E/G ratio of 3.38 and a beta of 1.66. Applied Materials, Inc. has a 1-year low of $28.79 and a 1-year high of $52.42. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. On average, analysts anticipate that Applied Materials, Inc. will post 3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 annualized dividend and a dividend yield of 1.63%. Applied Materials’s dividend payout ratio is presently 18.88%.

In related news, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total value of $1,297,213.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

AMAT has been the topic of several research reports. ValuEngine lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wells Fargo & Co reissued an “outperform” rating on shares of Applied Materials in a research report on Thursday, June 20th. BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, June 4th. Finally, Stifel Nicolaus set a $57.00 target price on shares of Applied Materials and gave the stock a “buy” rating in a research note on Monday, August 26th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $51.00.

Applied Materials Company 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.

Featured Article: Market Indexes

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

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

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.