Icon Advisers Inc. Co. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 52.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,200 shares of the manufacturing equipment provider’s stock after selling 20,800 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Applied Materials were worth $761,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Moody National Bank Trust Division purchased a new position in shares of Applied Materials in the fourth quarter valued at approximately $25,000. Squar Milner Financial Services LLC lifted its stake in Applied Materials by 190.8% in the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after acquiring an additional 458 shares during the last quarter. Sontag Advisory LLC purchased a new position in Applied Materials in the fourth quarter worth approximately $30,000. Bruderman Asset Management LLC purchased a new position in Applied Materials in the fourth quarter worth approximately $31,000. Finally, Lenox Wealth Advisors LLC lifted its stake in Applied Materials by 73.7% in the first quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock worth $31,000 after acquiring an additional 331 shares during the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. ValuEngine upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. BidaskClub downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Argus reiterated a “buy” rating on shares of Applied Materials in a research note on Tuesday, February 19th. Finally, DZ Bank downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.90.
AMAT stock opened at $43.96 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.74 and a current ratio of 2.72. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $56.94. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 1.85 and a beta of 1.66.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. Applied Materials had a net margin of 23.50% and a return on equity of 58.28%. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, analysts predict that Applied Materials, Inc. will post 2.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. This is a boost from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.
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About Applied Materials
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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