Pillar Pacific Capital Management LLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 243,073 shares of the manufacturing equipment provider’s stock after selling 3,320 shares during the period. Applied Materials comprises about 1.4% of Pillar Pacific Capital Management LLC’s holdings, making the stock its 6th largest position. Pillar Pacific Capital Management LLC’s holdings in Applied Materials were worth $10,042,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Honkamp Krueger Financial Services Inc. raised its stake in shares of Applied Materials by 0.5% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock valued at $864,000 after buying an additional 97 shares in the last quarter. Winfield Associates Inc. raised its stake in shares of Applied Materials by 52.6% in the second quarter. Winfield Associates Inc. now owns 13,220 shares of the manufacturing equipment provider’s stock valued at $546,000 after buying an additional 4,555 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Applied Materials by 42.5% in the second quarter. Great West Life Assurance Co. Can now owns 1,380,574 shares of the manufacturing equipment provider’s stock valued at $56,958,000 after buying an additional 411,801 shares in the last quarter. Eagle Global Advisors LLC raised its stake in shares of Applied Materials by 16.7% in the second quarter. Eagle Global Advisors LLC now owns 6,776 shares of the manufacturing equipment provider’s stock valued at $280,000 after buying an additional 970 shares in the last quarter. Finally, Alpha Cubed Investments LLC raised its stake in shares of Applied Materials by 6.5% in the second quarter. Alpha Cubed Investments LLC now owns 8,700 shares of the manufacturing equipment provider’s stock valued at $359,000 after buying an additional 531 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of Applied Materials, Inc. (AMAT) opened at 43.81 on Thursday. The company has a 50-day moving average price of $44.31 and a 200-day moving average price of $40.89. Applied Materials, Inc. has a 12-month low of $26.41 and a 12-month high of $47.86. The company has a market cap of $47.08 billion, a P/E ratio of 18.12 and a beta of 1.82. Applied Materials also was the recipient of unusually large options trading on Wednesday. Traders acquired 2,307 call options on the stock. This is an increase of 118% compared to the typical volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, topping 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 firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the company posted $0.34 EPS. The business’s quarterly revenue was up 44.7% on a year-over-year basis. On average, analysts predict that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 16.46%.

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Several analysts recently commented on the company. Vetr lowered Applied Materials from a “strong-buy” rating to a “buy” rating and set a $48.70 price target on the stock. in a research note on Monday. BidaskClub lowered Applied Materials from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Cowen and Company reaffirmed a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a research note on Friday, July 28th. B. Riley reaffirmed a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a research note on Sunday, July 16th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $55.00 price target on shares of Applied Materials in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Applied Materials currently has an average rating of “Buy” and a consensus target price of $46.62.

About Applied Materials

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

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