Arizona State Retirement System lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 266,482 shares of the manufacturing equipment provider’s stock after selling 800 shares during the period. Arizona State Retirement System’s holdings in Applied Materials were worth $11,008,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new stake in shares of Applied Materials during the first quarter worth about $371,000. Capital Management Corp VA boosted its stake in shares of Applied Materials by 1.8% in the first quarter. Capital Management Corp VA now owns 231,324 shares of the manufacturing equipment provider’s stock worth $8,998,000 after buying an additional 4,076 shares during the period. Oxford Asset Management purchased a new stake in shares of Applied Materials during the first quarter worth about $4,956,000. Karp Capital Management Corp purchased a new stake in shares of Applied Materials during the first quarter worth about $17,549,000. Finally, Outfitter Advisors LTD. boosted its stake in shares of Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 79.33% of the company’s stock.

Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.88 on Wednesday. Applied Materials, Inc. has a 1-year low of $26.86 and a 1-year high of $47.86. The company’s 50-day moving average is $44.27 and its 200 day moving average is $41.20. The company has a market cap of $47.15 billion, a price-to-earnings ratio of 18.15 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The firm’s revenue was up 44.7% on a year-over-year basis. On average, equities analysts predict that Applied Materials, Inc. will post $3.11 EPS for the current fiscal year.

The business 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. This represents a $0.40 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s payout ratio is presently 16.46%.

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A number of equities research analysts recently issued reports on AMAT shares. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 target price for the company in a research report on Monday, July 31st. Morgan Stanley reiterated an “overweight” rating and set a $52.00 target price on shares of Applied Materials in a research report on Monday. DA Davidson reiterated a “buy” rating and set a $55.00 target price on shares of Applied Materials in a research report on Monday, July 10th. Stifel Nicolaus increased their target price on shares of Applied Materials from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $50.00 target price on shares of Applied Materials in a research report on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials presently has a consensus 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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