Grandfield & Dodd LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.9% during the second quarter, Holdings Channel reports. The fund owned 391,892 shares of the manufacturing equipment provider’s stock after selling 38,179 shares during the period. Applied Materials accounts for 1.9% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 16th largest position. Grandfield & Dodd LLC’s holdings in Applied Materials were worth $16,189,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reilly Financial Advisors LLC boosted its position in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares during the last quarter. Pinnacle Bank bought a new position in shares of Applied Materials during the first quarter worth about $113,000. State of Alaska Department of Revenue bought a new position in shares of Applied Materials during the first quarter worth about $114,000. James Investment Research Inc. boosted its position in shares of Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the last quarter. Finally, Clean Yield Group bought a new position in shares of Applied Materials during the first quarter worth about $124,000. 80.24% of the stock is owned by institutional investors.

Applied Materials, Inc. (AMAT) opened at 43.81 on Thursday. The stock’s 50 day moving average price is $44.31 and its 200 day moving average price is $40.89. The firm has a market capitalization of $47.08 billion, a price-to-earnings ratio of 18.12 and a beta of 1.82. Applied Materials, Inc. has a 52-week low of $26.41 and a 52-week high of $47.86. Applied Materials also was the target of unusually large options trading on Wednesday. Stock traders bought 2,307 call options on the stock. This is an increase of approximately 118% compared to the average daily volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was up 44.7% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post $3.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.91%. Applied Materials’s dividend payout ratio is currently 16.46%.

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AMAT has been the subject of a number of analyst reports. Credit Suisse Group raised Applied Materials to a “buy” rating and set a $54.00 price objective for the company in a report on Friday, May 19th. Deutsche Bank AG reissued 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. Vetr cut Applied Materials from a “strong-buy” rating to a “buy” rating and set a $42.81 price objective for the company. in a report on Wednesday, April 19th. Bank of America Corporation reissued a “buy” rating and set a $54.00 price objective (up from $45.00) on shares of Applied Materials in a report on Wednesday, May 17th. Finally, UBS AG reissued a “buy” rating and set a $51.00 price objective (up from $44.00) on shares of Applied Materials in a report on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.62.

Applied Materials Company Profile

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

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