Univest Corp of Pennsylvania reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 99,036 shares of the manufacturing equipment provider’s stock after selling 1,676 shares during the period. Applied Materials comprises about 1.7% of Univest Corp of Pennsylvania’s portfolio, making the stock its 20th largest position. Univest Corp of Pennsylvania’s holdings in Applied Materials were worth $4,091,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake 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 in the last quarter. Egerton Capital UK LLP bought a new stake in shares of Applied Materials during the first quarter worth $452,897,000. FMR LLC boosted its stake 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 in the last quarter. LSV Asset Management boosted its stake in shares of 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 buying an additional 4,561,500 shares in the last quarter. Finally, Swedbank bought a new stake in shares of Applied Materials during the second quarter worth $135,363,000. 80.24% of the stock is owned by institutional investors.

Shares of Applied Materials, Inc. (AMAT) opened at 43.08 on Friday. The company 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 1-year low of $27.00 and a 1-year high of $47.86. The stock has a 50 day moving average price of $44.26 and a 200 day moving average price of $40.97. Applied Materials also was the target of some unusual options trading activity on Wednesday. Stock traders purchased 2,307 call options on the stock. This represents an increase of approximately 118% compared to the average 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. Applied Materials’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Analysts forecast that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.93%. Applied Materials’s payout ratio is 16.46%.

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AMAT has been the subject of several research analyst reports. Deutsche Bank AG reissued a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Bank of America Corporation reissued a “buy” rating and set a $54.00 price objective (up previously from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 price objective on shares of Applied Materials in a research report on Tuesday, April 25th. Stifel Nicolaus boosted their price objective on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Sunday, May 21st. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $40.00 price objective (up previously from $35.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Applied Materials presently has an average rating of “Buy” and a consensus price target of $46.60.

About Applied Materials

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

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