Trillium Asset Management LLC Sells 8,175 Shares of Applied Materials Inc. (AMAT)
Trillium Asset Management LLC lowered its position in shares of Applied Materials Inc. (NASDAQ:AMAT) by 17.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,107 shares of the manufacturing equipment provider’s stock after selling 8,175 shares during the period. Trillium Asset Management LLC’s holdings in Applied Materials were worth $913,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AMAT. Clean Yield Group boosted its stake in shares of Applied Materials by 16.5% in the second quarter. Clean Yield Group now owns 4,950 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 700 shares during the last quarter. First PREMIER Bank bought a new stake in shares of Applied Materials during the second quarter worth approximately $120,000. NEXT Financial Group Inc boosted its stake in shares of Applied Materials by 406.1% in the second quarter. NEXT Financial Group Inc now owns 6,605 shares of the manufacturing equipment provider’s stock worth $158,000 after buying an additional 5,300 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Applied Materials by 52.9% in the first quarter. IFP Advisors Inc now owns 8,741 shares of the manufacturing equipment provider’s stock worth $185,000 after buying an additional 3,026 shares during the last quarter. Finally, Sigma Planning Corp bought a new stake in shares of Applied Materials during the second quarter worth approximately $204,000. Institutional investors own 82.20% of the company’s stock.
Applied Materials Inc. (NASDAQ:AMAT) traded down 0.47% during mid-day trading on Friday, hitting $29.75. The stock had a trading volume of 11,641,487 shares. The firm has a 50-day moving average of $29.83 and a 200-day moving average of $24.93. Applied Materials Inc. has a 52-week low of $15.07 and a 52-week high of $31.07. The stock has a market cap of $32.16 billion, a P/E ratio of 23.46 and a beta of 1.84.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts forecast that Applied Materials Inc. will post $1.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 31.25%.
A number of analysts have commented on the company. Goldman Sachs Group Inc. set a $33.00 price target on Applied Materials and gave the stock a “buy” rating in a research report on Friday, August 19th. B. Riley reiterated a “buy” rating and set a $27.00 target price on shares of Applied Materials in a research report on Tuesday, July 5th. RBC Capital Markets reiterated a “sector perform” rating and set a $28.00 target price (up previously from $26.00) on shares of Applied Materials in a research report on Wednesday, August 17th. Credit Suisse Group AG reiterated a “buy” rating on shares of Applied Materials in a research report on Friday, June 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price (up previously from $29.00) on shares of Applied Materials in a research report on Sunday, August 21st. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Applied Materials currently has an average rating of “Buy” and a consensus target price of $30.72.
In other Applied Materials news, VP Omkaram Nalamasu sold 99,491 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $30.15, for a total transaction of $2,999,653.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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