Applied Materials, Inc. (AMAT) Position Cut by FCG Advisors LLC

FCG Advisors LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,279 shares of the manufacturing equipment provider’s stock after selling 74 shares during the period. FCG Advisors LLC’s holdings in Applied Materials were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Applied Materials by 2,063.7% during the 1st quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after purchasing an additional 63,912,660 shares during the last quarter. Egerton Capital UK LLP bought a new position in shares of Applied Materials during the 1st quarter valued at $452,897,000. FMR LLC lifted its holdings in shares of Applied Materials by 16.8% during the 1st quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares during the period. LSV Asset Management lifted its holdings in shares of Applied Materials by 151.5% during the 1st quarter. LSV Asset Management now owns 7,572,100 shares of the manufacturing equipment provider’s stock valued at $294,554,000 after buying an additional 4,561,500 shares during the period. Finally, Swedbank bought a new position in shares of Applied Materials during the 2nd quarter valued at $135,363,000. Institutional investors own 79.47% of the company’s stock.

A number of equities analysts recently commented on AMAT shares. B. Riley reaffirmed a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a report on Tuesday, July 11th. UBS AG reaffirmed a “buy” rating and issued a $52.00 target price on shares of Applied Materials in a report on Tuesday, June 13th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 target price on the stock in a report on Friday. KeyCorp reiterated an “outperform” rating and issued a $57.00 price target on shares of Applied Materials in a research note on Saturday, September 16th. Finally, Instinet reiterated a “buy” rating and issued a $50.00 price target (up previously from $47.00) on shares of Applied Materials in a research note on Monday, August 21st. Two analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.69.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 47.77 on Friday. Applied Materials, Inc. has a 1-year low of $27.56 and a 1-year high of $48.53. The stock’s 50 day moving average is $44.50 and its 200 day moving average is $42.82. The company has a market cap of $50.95 billion, a P/E ratio of 16.98 and a beta of 1.81. Applied Materials also saw unusually large options trading activity on Wednesday. Investors purchased 2,307 call options on the company. This represents an increase of approximately 118% compared to the average daily volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. On average, analysts predict that Applied Materials, Inc. will post $3.20 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is presently 14.18%.

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In other news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Applied Materials Profile

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

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