Wellington Shields Capital Management LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 54.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 62,391 shares of the manufacturing equipment provider’s stock after selling 73,898 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Applied Materials were worth $2,411,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in Applied Materials by 25.8% in the second quarter. American Century Companies Inc. now owns 13,874,509 shares of the manufacturing equipment provider’s stock worth $640,864,000 after purchasing an additional 2,844,738 shares during the period. Bank of New York Mellon Corp grew its holdings in Applied Materials by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 13,804,704 shares of the manufacturing equipment provider’s stock worth $637,639,000 after purchasing an additional 435,308 shares during the period. LSV Asset Management grew its holdings in Applied Materials by 14.7% in the second quarter. LSV Asset Management now owns 7,760,130 shares of the manufacturing equipment provider’s stock worth $358,440,000 after purchasing an additional 996,084 shares during the period. Fred Alger Management Inc. grew its holdings in Applied Materials by 34.4% in the second quarter. Fred Alger Management Inc. now owns 6,835,353 shares of the manufacturing equipment provider’s stock worth $315,725,000 after purchasing an additional 1,751,306 shares during the period. Finally, TD Asset Management Inc. grew its holdings in Applied Materials by 8.4% in the second quarter. TD Asset Management Inc. now owns 5,186,941 shares of the manufacturing equipment provider’s stock worth $239,585,000 after purchasing an additional 400,239 shares during the period. Institutional investors own 77.40% of the company’s stock.
Shares of Applied Materials stock traded down $0.81 during trading hours on Friday, reaching $34.13. The company’s stock had a trading volume of 114,749 shares, compared to its average volume of 14,449,954. Applied Materials, Inc. has a one year low of $30.53 and a one year high of $62.40. The firm has a market capitalization of $34.28 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. 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 (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, research analysts forecast that Applied Materials, Inc. will post 4.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s payout ratio is currently 24.62%.
A number of research firms have commented on AMAT. BidaskClub upgraded shares of Applied Materials from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Susquehanna Bancshares restated a “neutral” rating and issued a $38.00 price target (down from $60.00) on shares of Applied Materials in a report on Tuesday, October 23rd. Zacks Investment Research cut shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Citigroup reduced their price target on shares of Applied Materials from $78.00 to $73.00 and set a “buy” rating for the company in a report on Friday, July 13th. Finally, B. Riley cut shares of Applied Materials from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $63.00 to $36.00 in a report on Monday, October 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.50.
About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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