Applied Materials Inc. (AMAT) Shares Sold by Eaton Vance Management
Eaton Vance Management lowered its position in Applied Materials Inc. (NASDAQ:AMAT) by 36.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,577 shares of the manufacturing equipment provider’s stock after selling 78,830 shares during the period. Eaton Vance Management’s holdings in Applied Materials were worth $3,274,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Applied Materials by 2.4% in the first quarter. Legal & General Group Plc now owns 5,063,202 shares of the manufacturing equipment provider’s stock worth $107,236,000 after buying an additional 119,577 shares in the last quarter. AXA increased its stake in shares of Applied Materials by 460.6% in the first quarter. AXA now owns 39,800 shares of the manufacturing equipment provider’s stock valued at $843,000 after buying an additional 32,700 shares during the period. Pensionfund Sabic bought a new stake in shares of Applied Materials during the second quarter valued at about $1,966,000. Hanseatic Management Services Inc. bought a new stake in shares of Applied Materials during the second quarter valued at about $534,000. Finally, Seven Eight Capital LLC bought a new stake in shares of Applied Materials during the first quarter valued at about $1,439,000. 82.20% of the stock is currently owned by institutional investors.
Applied Materials Inc. (NASDAQ:AMAT) traded down 0.839% during trading on Wednesday, hitting $30.135. The stock had a trading volume of 8,255,683 shares. Applied Materials Inc. has a 12-month low of $14.29 and a 12-month high of $30.78. The stock has a 50 day moving average price of $28.72 and a 200 day moving average price of $24.06. The company has a market capitalization of $32.57 billion, a price-to-earnings ratio of 23.766 and a beta of 1.79.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The business earned $2.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts forecast that Applied Materials Inc. will post $1.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s payout ratio is presently 31.25%.
Several analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $39.00 price target on shares of Applied Materials in a report on Wednesday. Citigroup Inc. set a $37.00 price target on Applied Materials and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of Applied Materials in a report on Friday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price target on shares of Applied Materials in a report on Friday, September 16th. Finally, Argus reissued a “buy” rating and issued a $34.00 price target on shares of Applied Materials in a report on Wednesday, August 24th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $30.39.
In related news, VP Ali Salehpour sold 35,505 shares of the company’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $24.06, for a total value of $854,250.30. Following the completion of the transaction, the vice president now directly owns 495,691 shares of the company’s stock, valued at approximately $11,926,325.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Omkaram Nalamasu sold 26,035 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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