Sigma Planning Corp decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 60.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,223 shares of the manufacturing equipment provider’s stock after selling 27,295 shares during the quarter. Sigma Planning Corp’s holdings in Applied Materials were worth $2,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of AMAT. Whale Rock Capital Management LLC bought a new stake in Applied Materials during the 1st quarter valued at $403,729,000. Putnam Investments LLC raised its holdings in Applied Materials by 219.1% during the 1st quarter. Putnam Investments LLC now owns 4,080,100 shares of the manufacturing equipment provider’s stock valued at $545,101,000 after acquiring an additional 2,801,305 shares during the period. FMR LLC raised its holdings in Applied Materials by 13.6% during the 2nd quarter. FMR LLC now owns 21,693,309 shares of the manufacturing equipment provider’s stock valued at $3,089,127,000 after acquiring an additional 2,593,318 shares during the period. Point72 Asset Management L.P. bought a new stake in Applied Materials during the 1st quarter valued at $255,171,000. Finally, UBS Asset Management Americas Inc. raised its holdings in Applied Materials by 25.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 7,559,093 shares of the manufacturing equipment provider’s stock valued at $1,009,895,000 after acquiring an additional 1,555,159 shares during the period. 75.37% of the stock is currently owned by institutional investors and hedge funds.
In other Applied Materials news, CFO Daniel Durn sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $134.59, for a total transaction of $672,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ginetto Addiego sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $134.83, for a total transaction of $5,393,200.00. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock valued at $6,928,710 in the last ninety days. Insiders own 0.37% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.13. Applied Materials had a net margin of 24.54% and a return on equity of 49.27%. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post 6.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Friday, November 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Wednesday, November 24th. Applied Materials’s dividend payout ratio is 23.02%.
Several research analysts have recently weighed in on AMAT shares. Morgan Stanley upped their price target on shares of Applied Materials from $139.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, August 20th. Daiwa Capital Markets started coverage on shares of Applied Materials in a report on Thursday, August 19th. They issued an “outperform” rating and a $140.00 price target on the stock. Mizuho upped their price target on shares of Applied Materials from $158.00 to $161.00 and gave the stock a “buy” rating in a report on Friday, August 20th. New Street Research cut shares of Applied Materials from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $162.38 to $140.00 in a report on Tuesday, September 28th. Finally, Susquehanna cut shares of Applied Materials from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $160.00 in a report on Tuesday, September 14th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $152.39.
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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