Mengis Capital Management Inc. lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 22.5% during the second quarter, Holdings Channel reports. The fund owned 6,903 shares of the manufacturing equipment provider’s stock after selling 2,000 shares during the period. Mengis Capital Management Inc.’s holdings in Applied Materials were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMAT. BlackRock Inc. raised its stake in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after buying an additional 63,912,660 shares in the last quarter. Egerton Capital UK LLP acquired a new stake in Applied Materials during the first quarter valued at about $452,897,000. FMR LLC raised its stake in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares in the last quarter. LSV Asset Management raised its stake in Applied Materials by 151.5% in the first quarter. LSV Asset Management now owns 7,572,100 shares of the manufacturing equipment provider’s stock valued at $294,554,000 after buying an additional 4,561,500 shares in the last quarter. Finally, Swedbank acquired a new stake in Applied Materials during the second quarter valued at about $135,363,000. Institutional investors and hedge funds own 79.33% of the company’s stock.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.78 on Tuesday. The firm has a 50 day moving average price of $44.25 and a 200-day moving average price of $41.14. Applied Materials, Inc. has a one year low of $26.86 and a one year high of $47.86. The firm has a market cap of $47.05 billion, a P/E ratio of 18.11 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The business’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. Analysts forecast that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

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

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Several analysts have issued reports on AMAT shares. Deutsche Bank AG restated a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. Bank of America Corporation restated a “buy” rating and issued a $54.00 price objective (up previously from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Royal Bank Of Canada restated a “hold” rating and issued a $35.00 price objective on shares of Applied Materials in a research note on Tuesday, April 25th. Stifel Nicolaus upped their price objective on Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Sunday, May 21st. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $40.00 price objective (up previously from $35.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Applied Materials presently has an average rating of “Buy” and an average target price of $46.60.

About Applied Materials

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

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