Clearbridge Investments LLC increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 86,264 shares of the manufacturing equipment provider’s stock after acquiring an additional 4,810 shares during the period. Clearbridge Investments LLC’s holdings in Applied Materials were worth $3,953,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Applied Materials by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 42,104 shares of the manufacturing equipment provider’s stock valued at $2,570,000 after buying an additional 151 shares during the period. KCM Investment Advisors LLC lifted its holdings in shares of Applied Materials by 2.1% in the fourth quarter. KCM Investment Advisors LLC now owns 9,894 shares of the manufacturing equipment provider’s stock valued at $604,000 after buying an additional 201 shares during the period. Occidental Asset Management LLC lifted its holdings in shares of Applied Materials by 1.4% in the first quarter. Occidental Asset Management LLC now owns 15,190 shares of the manufacturing equipment provider’s stock valued at $696,000 after buying an additional 212 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of Applied Materials by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 22,357 shares of the manufacturing equipment provider’s stock valued at $1,365,000 after buying an additional 225 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Applied Materials by 3.9% in the fourth quarter. Valley National Advisers Inc. now owns 6,595 shares of the manufacturing equipment provider’s stock valued at $403,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

NASDAQ:AMAT opened at $59.06 on Tuesday. The firm has a market capitalization of $53.50 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 1.13 and a beta of 1.40. Applied Materials, Inc. has a 1-year low of $36.64 and a 1-year high of $69.44. The company has a current ratio of 2.67, a quick ratio of 1.89 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $56.90 and its 200 day moving average price is $56.32.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Equities analysts forecast that Applied Materials, Inc. will post 3.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, August 19th. Applied Materials’s payout ratio is currently 28.95%.

In other Applied Materials news, Director Alexander Karsner sold 20,027 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $60.43, for a total value of $1,210,231.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Several analysts have recently weighed in on AMAT shares. Barclays started coverage on Applied Materials in a report on Tuesday, May 26th. They issued an “equal weight” rating and a $60.00 price objective for the company. Cowen upped their price objective on Applied Materials from $60.00 to $72.00 in a report on Friday, May 15th. DA Davidson upped their price objective on Applied Materials from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Deutsche Bank upped their target price on Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, Citigroup reduced their target price on Applied Materials from $76.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, March 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $67.48.

Applied Materials Company Profile

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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