Edgestream Partners L.P. bought a new position in Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,750 shares of the manufacturing equipment provider’s stock, valued at approximately $238,000.
A number of other hedge funds have also bought and sold shares of AMAT. BlackRock Inc. grew its position in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock worth $2,606,676,000 after acquiring an additional 63,912,660 shares in the last quarter. Egerton Capital UK LLP bought a new stake in Applied Materials in the first quarter worth approximately $452,897,000. FMR LLC grew its position in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock worth $1,245,311,000 after acquiring an additional 4,604,275 shares in the last quarter. LSV Asset Management grew its position in Applied Materials by 151.5% in the first quarter. LSV Asset Management now owns 7,572,100 shares of the manufacturing equipment provider’s stock worth $294,554,000 after acquiring an additional 4,561,500 shares in the last quarter. Finally, Swedbank bought a new stake in Applied Materials in the second quarter worth approximately $135,363,000. 79.67% of the stock is owned by institutional investors.
In related news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.
Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded up 0.861% during midday trading on Friday, reaching $47.455. 5,564,870 shares of the company’s stock were exchanged. The company’s 50 day moving average is $44.27 and its 200-day moving average is $42.49. The stock has a market cap of $50.61 billion, a PE ratio of 16.870 and a beta of 1.81. Applied Materials, Inc. has a 12 month low of $27.56 and a 12 month high of $47.86.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm posted $0.50 EPS. The company’s revenue was up 32.7% compared to the same quarter last year. Equities analysts forecast that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. Applied Materials’s dividend payout ratio is 14.18%.
WARNING: “Edgestream Partners L.P. Acquires New Stake in Applied Materials, Inc. (NASDAQ:AMAT)” was published by BBNS and is owned by of BBNS. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://baseballnewssource.com/markets/edgestream-partners-l-p-purchases-new-stake-in-applied-materials-inc-amat/1603424.html.
AMAT has been the subject of several recent analyst reports. Craig Hallum upped their price objective on shares of Applied Materials to $60.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Stifel Nicolaus upped their price objective on shares of Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Sunday, May 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of Applied Materials in a report on Friday, May 19th. Instinet reaffirmed a “buy” rating and set a $47.00 price objective (up from $40.00) on shares of Applied Materials in a report on Sunday, May 21st. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Applied Materials in a report on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and a consensus target price of $51.55.
About Applied Materials
Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with our FREE daily email newsletter.