Sei Investments Co. decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.5% during the second quarter, Holdings Channel reports. The firm owned 1,093,445 shares of the manufacturing equipment provider’s stock after selling 76,632 shares during the period. Sei Investments Co.’s holdings in Applied Materials were worth $45,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Applied Materials by 3.4% in the first quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock worth $2,853,797,000 after buying an additional 2,441,471 shares during the period. BlackRock Inc. boosted its position in shares of 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 buying an additional 63,912,660 shares during the period. FMR LLC boosted its position in shares of 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 buying an additional 4,604,275 shares during the period. Egerton Capital UK LLP boosted its position in shares of Applied Materials by 18.0% in the second quarter. Egerton Capital UK LLP now owns 13,734,934 shares of the manufacturing equipment provider’s stock worth $567,390,000 after buying an additional 2,092,326 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Applied Materials by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock worth $501,248,000 after buying an additional 3,191,737 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.08 on Friday. The stock has a market capitalization of $46.30 billion, a price-to-earnings ratio of 17.82 and a beta of 1.82. Applied Materials, Inc. has a 12-month low of $27.00 and a 12-month high of $47.86. The stock’s 50 day moving average is $44.26 and its 200 day moving average is $40.97. Applied Materials also was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 2,307 call options on the company. This represents an increase of 118% compared to the typical daily volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 44.7% on a year-over-year basis. Equities analysts predict that Applied Materials, Inc. will post $3.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.93%. Applied Materials’s dividend payout ratio is presently 16.46%.

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AMAT has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research note 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 research note on Friday, May 19th. UBS AG reaffirmed a “buy” rating and set a $51.00 price objective (up from $44.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Instinet reaffirmed a “buy” rating and set a $47.00 price objective (up from $40.00) on shares of Applied Materials in a research note on Sunday, May 21st. Finally, Needham & Company LLC raised their price objective on Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Sunday, May 21st. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.60.

About Applied Materials

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

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