Applied Materials, Inc. (AMAT) Shares Bought by Azimuth Capital Management LLC

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Azimuth Capital Management LLC grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 38.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,692 shares of the manufacturing equipment provider’s stock after buying an additional 6,595 shares during the period. Azimuth Capital Management LLC’s holdings in Applied Materials were worth $1,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. raised its holdings in shares of Applied Materials by 368.3% during the first quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock worth $114,000 after purchasing an additional 1,617 shares during the last quarter. Kaizen Advisory LLC raised its holdings in shares of Applied Materials by 147.4% during the second quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock worth $118,000 after purchasing an additional 1,526 shares during the last quarter. Rational Advisors LLC raised its holdings in shares of Applied Materials by 5,102.0% during the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock worth $120,000 after purchasing an additional 2,551 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Applied Materials by 127.1% during the second quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock worth $141,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Applied Materials by 24.3% during the second quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock worth $142,000 after purchasing an additional 1,228 shares during the last quarter. 75.38% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on AMAT. ValuEngine cut shares of Applied Materials from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. BidaskClub cut shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Royal Bank of Canada reissued a “hold” rating and set a $50.00 target price on shares of Applied Materials in a report on Friday, August 17th. Stifel Nicolaus reduced their target price on shares of Applied Materials from $75.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 17th. Finally, B. Riley reduced their target price on shares of Applied Materials from $70.00 to $63.00 and set a “buy” rating for the company in a report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and an average target price of $61.84.

AMAT stock opened at $43.14 on Friday. The firm has a market cap of $43.01 billion, a P/E ratio of 13.27, a PEG ratio of 0.77 and a beta of 1.63. The company has a current ratio of 2.52, a quick ratio of 1.67 and a debt-to-equity ratio of 0.78. Applied Materials, Inc. has a one year low of $42.52 and a one year high of $62.40.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.42 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. research analysts predict that Applied Materials, Inc. will post 4.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 23rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 22nd. This represents a $0.80 annualized dividend and a yield of 1.85%. Applied Materials’s dividend payout ratio is presently 24.62%.

Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment 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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