Regent Investment Management LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,800 shares of the manufacturing equipment provider’s stock after selling 600 shares during the quarter. Regent Investment Management LLC’s holdings in Applied Materials were worth $439,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Buckingham Capital Management Inc. lifted its position in shares of Applied Materials by 1.9% during the first quarter. Buckingham Capital Management Inc. now owns 89,694 shares of the manufacturing equipment provider’s stock worth $3,557,000 after purchasing an additional 1,667 shares in the last quarter. Horizon Investments LLC acquired a new stake in shares of Applied Materials during the first quarter worth about $230,000. Fulton Bank N.A. lifted its position in shares of Applied Materials by 4.5% during the second quarter. Fulton Bank N.A. now owns 48,361 shares of the manufacturing equipment provider’s stock worth $2,172,000 after purchasing an additional 2,083 shares in the last quarter. Swedbank lifted its position in shares of Applied Materials by 25.7% during the second quarter. Swedbank now owns 479,404 shares of the manufacturing equipment provider’s stock worth $21,530,000 after purchasing an additional 98,088 shares in the last quarter. Finally, DNB Asset Management AS lifted its position in shares of Applied Materials by 266.4% during the second quarter. DNB Asset Management AS now owns 399,543 shares of the manufacturing equipment provider’s stock worth $17,943,000 after purchasing an additional 290,501 shares in the last quarter. 79.06% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on AMAT shares. Goldman Sachs Group cut shares of Applied Materials from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Deutsche Bank increased their price target on shares of Applied Materials from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Co reissued a “positive” rating and set a $58.00 price target (up previously from $52.00) on shares of Applied Materials in a research report on Wednesday, September 18th. Zacks Investment Research upgraded shares of Applied Materials from a “sell” rating to a “hold” rating and set a $60.00 target price on the stock in a research note on Tuesday, October 29th. Finally, ValuEngine lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $53.23.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the business posted $1.20 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, November 20th. Applied Materials’s dividend payout ratio is presently 18.88%.
In related news, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total transaction of $1,340,891.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,945 shares of company stock valued at $2,776,105. 0.44% of the stock is currently owned by company insiders.
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.
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.