Biechele Royce Advisors trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,321 shares of the manufacturing equipment provider’s stock after selling 13,339 shares during the quarter. Applied Materials makes up approximately 5.8% of Biechele Royce Advisors’ investment portfolio, making the stock its 2nd largest position. Biechele Royce Advisors’ holdings in Applied Materials were worth $9,268,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Bainco International Investors purchased a new position in Applied Materials during the first quarter worth about $27,000. Verus Capital Partners LLC raised its position in shares of Applied Materials by 500.0% in the 1st quarter. Verus Capital Partners LLC now owns 600 shares of the manufacturing equipment provider’s stock worth $27,000 after buying an additional 500 shares during the period. Liberty Wealth Management LLC boosted its holdings in Applied Materials by 770.1% in the first quarter. Liberty Wealth Management LLC now owns 670 shares of the manufacturing equipment provider’s stock valued at $31,000 after acquiring an additional 593 shares during the last quarter. Lenox Wealth Management Inc. purchased a new stake in Applied Materials during the first quarter valued at about $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in Applied Materials during the first quarter valued at about $35,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.
Several equities analysts have recently weighed in on the company. Needham & Company LLC reduced their price objective on Applied Materials from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. They noted that the move was a valuation call. Deutsche Bank boosted their price objective on shares of Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. UBS Group increased their price objective on shares of Applied Materials from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Cfra reduced their target price on shares of Applied Materials from $68.00 to $60.00 and set a “hold” rating on the stock in a report on Friday, May 15th. Finally, BidaskClub upgraded Applied Materials from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $68.50.
Applied Materials stock traded down $0.09 during mid-day trading on Friday, hitting $64.33. The stock had a trading volume of 5,901,236 shares, compared to its average volume of 5,467,960. The stock has a 50-day simple moving average of $61.01 and a two-hundred day simple moving average of $56.53. The company has a current ratio of 2.67, a quick ratio of 1.89 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $58.96 billion, a PE ratio of 20.49, a P/E/G ratio of 1.24 and a beta of 1.40. Applied Materials, Inc. has a 12 month low of $36.64 and a 12 month high of $69.44.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Sell-side analysts expect that Applied Materials, Inc. will post 3.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. Applied Materials’s payout ratio is currently 28.95%.
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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