Clinton Group Inc. boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 94.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,401 shares of the manufacturing equipment provider’s stock after buying an additional 41,960 shares during the quarter. Clinton Group Inc.’s holdings in Applied Materials were worth $3,569,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Tudor Investment Corp ET AL boosted its stake in Applied Materials by 6.9% in the second quarter. Tudor Investment Corp ET AL now owns 47,292 shares of the manufacturing equipment provider’s stock valued at $1,954,000 after buying an additional 3,034 shares in the last quarter. UBS Oconnor LLC acquired a new stake in Applied Materials in the second quarter valued at about $8,211,000. First Allied Advisory Services Inc. boosted its stake in Applied Materials by 3.4% in the second quarter. First Allied Advisory Services Inc. now owns 44,939 shares of the manufacturing equipment provider’s stock valued at $1,853,000 after buying an additional 1,471 shares in the last quarter. PDT Partners LLC boosted its stake in Applied Materials by 0.7% in the second quarter. PDT Partners LLC now owns 207,967 shares of the manufacturing equipment provider’s stock valued at $8,591,000 after buying an additional 1,367 shares in the last quarter. Finally, Frontier Wealth Management LLC boosted its stake in Applied Materials by 28.2% in the second quarter. Frontier Wealth Management LLC now owns 11,579 shares of the manufacturing equipment provider’s stock valued at $478,000 after buying an additional 2,549 shares in the last quarter. 79.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded up 2.90% during midday trading on Friday, reaching $52.09. The company’s stock had a trading volume of 21,008,733 shares. The company has a market capitalization of $55.55 billion, a P/E ratio of 18.52 and a beta of 1.81. Applied Materials, Inc. has a 12-month low of $27.56 and a 12-month high of $52.28. The company’s 50-day moving average price is $44.50 and its 200 day moving average price is $42.82.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. Applied Materials’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. On average, equities research analysts forecast that Applied Materials, Inc. will post $3.20 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s payout ratio is 14.18%.

COPYRIGHT VIOLATION WARNING: “Applied Materials, Inc. (AMAT) Shares Bought by Clinton Group Inc.” was reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://www.watchlistnews.com/applied-materials-inc-amat-shares-bought-by-clinton-group-inc/1601293.html.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Several analysts recently weighed in on the company. Evercore ISI reaffirmed an “outperform” rating and issued a $65.00 price objective (up from $56.00) on shares of Applied Materials in a research note on Saturday. Instinet reaffirmed a “buy” rating and issued a $55.00 price objective (up from $50.00) on shares of Applied Materials in a research note on Saturday. B. Riley reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Applied Materials in a research note on Saturday. KeyCorp reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Applied Materials in a research note on Friday. Finally, Nomura 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 Friday. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $55.31.

About Applied Materials

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

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

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.