Epoch Investment Partners Inc. Reduces Holdings in Applied Materials, Inc. (AMAT)

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Epoch Investment Partners Inc. trimmed its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 14.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,018,772 shares of the manufacturing equipment provider’s stock after selling 1,531,536 shares during the period. Applied Materials makes up about 1.3% of Epoch Investment Partners Inc.’s holdings, making the stock its 10th largest position. Epoch Investment Partners Inc.’s holdings in Applied Materials were worth $416,577,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMAT. Global X Management Co. LLC raised its holdings in shares of Applied Materials by 12.7% in the 1st quarter. Global X Management Co. LLC now owns 15,040 shares of the manufacturing equipment provider’s stock worth $836,000 after purchasing an additional 1,696 shares in the last quarter. FDx Advisors Inc. raised its holdings in shares of Applied Materials by 56.2% in the 1st quarter. FDx Advisors Inc. now owns 14,076 shares of the manufacturing equipment provider’s stock worth $782,000 after purchasing an additional 5,067 shares in the last quarter. Mckinley Capital Management LLC Delaware raised its holdings in shares of Applied Materials by 67.9% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 5,555 shares of the manufacturing equipment provider’s stock worth $309,000 after purchasing an additional 2,247 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Applied Materials by 22.1% in the 1st quarter. Victory Capital Management Inc. now owns 374,861 shares of the manufacturing equipment provider’s stock worth $20,846,000 after purchasing an additional 67,958 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Applied Materials by 2.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,963,360 shares of the manufacturing equipment provider’s stock worth $109,182,000 after purchasing an additional 50,471 shares in the last quarter. Institutional investors own 75.38% of the company’s stock.

A number of analysts recently commented on the stock. Morgan Stanley downgraded shares of Applied Materials from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $58.00 to $54.00 in a report on Thursday, August 9th. B. Riley dropped their target price on shares of Applied Materials from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Wells Fargo & Co dropped their target price on shares of Applied Materials from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 17th. Cowen assumed coverage on shares of Applied Materials in a report on Monday, May 14th. They issued a “market perform” rating and a $60.00 target price on the stock. Finally, Citigroup dropped their target price on shares of Applied Materials from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $61.84.

Applied Materials stock opened at $42.50 on Thursday. The company has a market capitalization of $42.29 billion, a PE ratio of 9.76, a PEG ratio of 0.75 and a beta of 1.53. 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 fifty-two week low of $41.92 and a fifty-two week high of $62.40.

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

Applied Materials Company 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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