Castleark Management LLC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 36.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,888 shares of the manufacturing equipment provider’s stock after selling 283,243 shares during the period. Castleark Management LLC’s holdings in Applied Materials were worth $22,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd boosted its stake in Applied Materials by 62.1% in the second quarter. Qube Research & Technologies Ltd now owns 10,980 shares of the manufacturing equipment provider’s stock valued at $507,000 after acquiring an additional 4,208 shares in the last quarter. HRT Financial LLC acquired a new stake in shares of Applied Materials during the second quarter worth about $1,287,000. HPM Partners LLC boosted its stake in shares of Applied Materials by 31.8% during the second quarter. HPM Partners LLC now owns 22,499 shares of the manufacturing equipment provider’s stock worth $1,039,000 after buying an additional 5,428 shares during the period. Cozad Asset Management Inc. acquired a new stake in shares of Applied Materials during the second quarter worth about $624,000. Finally, Lingohr & Partner Asset Management GmbH acquired a new stake in shares of Applied Materials during the second quarter worth about $1,353,000. Institutional investors own 77.31% of the company’s stock.

Shares of NASDAQ:AMAT opened at $39.10 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.52 and a quick ratio of 1.67. The stock has a market capitalization of $37.74 billion, a P/E ratio of 8.71, a PEG ratio of 0.67 and a beta of 1.53. Applied Materials, Inc. has a 52 week low of $37.39 and a 52 week high of $62.40.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.03. The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.42 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. sell-side analysts anticipate that Applied Materials, Inc. will post 4.45 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.05%. Applied Materials’s payout ratio is currently 24.62%.

Several equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Bank of America decreased their target price on shares of Applied Materials from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Citigroup decreased their target price on shares of Applied Materials from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Nomura decreased their target price on shares of Applied Materials from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Finally, Evercore ISI decreased their target price on shares of Applied Materials to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Applied Materials currently has an average rating of “Buy” and an average price target of $62.26.

Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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

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