Edgestream Partners L.P. Acquires New Stake in Applied Materials, Inc. (NASDAQ:AMAT)

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%.

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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

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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