FDx Advisors Inc. Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

FDx Advisors Inc. lessened its stake in Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 61.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,311 shares of the manufacturing equipment provider’s stock after selling 3,719 shares during the period. FDx Advisors Inc.’s holdings in Applied Materials were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Disciplined Investments LLC grew its stake in Applied Materials by 67.3% in the first quarter. Disciplined Investments LLC now owns 251 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 101 shares during the last quarter. Hardy Reed LLC purchased a new stake in shares of Applied Materials during the first quarter worth about $34,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Applied Materials during the fourth quarter worth about $35,000. NuWave Investment Management LLC purchased a new stake in shares of Applied Materials during the first quarter worth about $36,000. Finally, Monetary Management Group Inc. purchased a new stake in shares of Applied Materials during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, SVP Teri A. Little sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $86.30, for a total value of $1,294,500.00. Following the completion of the sale, the senior vice president now directly owns 93,169 shares in the company, valued at approximately $8,040,484.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMAT. Citigroup dropped their price target on Applied Materials from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Applied Materials from $135.00 to $110.00 in a research note on Monday, July 18th. Needham & Company LLC dropped their price target on Applied Materials from $172.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. Stifel Nicolaus lifted their target price on Applied Materials from $190.00 to $197.00 in a report on Thursday, April 7th. Finally, StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.04.

Applied Materials Stock Up 1.6 %

Shares of AMAT opened at $105.16 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.54 and a current ratio of 2.29. The stock has a 50 day moving average price of $100.08 and a 200 day moving average price of $118.64. The stock has a market capitalization of $91.48 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.60 and a beta of 1.50. Applied Materials, Inc. has a one year low of $82.67 and a one year high of $167.06.

Applied Materials (NASDAQ:AMATGet Rating) last issued its earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.04). The company had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Applied Materials had a net margin of 27.20% and a return on equity of 57.17%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 earnings per share. Equities research analysts forecast that Applied Materials, Inc. will post 7.43 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.99%. The ex-dividend date is Wednesday, August 24th. Applied Materials’s payout ratio is currently 13.87%.

Applied Materials Profile

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Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is 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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