Coronation Fund Managers Ltd. Reduces Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Coronation Fund Managers Ltd. cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 45.1% in the second quarter, Holdings Channel.com reports. The firm owned 62,197 shares of the manufacturing equipment provider’s stock after selling 51,092 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Applied Materials were worth $2,793,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Evermay Wealth Management LLC grew its position in shares of Applied Materials by 4.1% in the first quarter. Evermay Wealth Management LLC now owns 6,409 shares of the manufacturing equipment provider’s stock valued at $254,000 after purchasing an additional 250 shares in the last quarter. Institutional & Family Asset Management LLC lifted its holdings in Applied Materials by 16.3% in the first quarter. Institutional & Family Asset Management LLC now owns 1,866 shares of the manufacturing equipment provider’s stock valued at $74,000 after acquiring an additional 262 shares during the last quarter. Regentatlantic Capital LLC lifted its holdings in Applied Materials by 2.0% in the second quarter. Regentatlantic Capital LLC now owns 14,722 shares of the manufacturing equipment provider’s stock valued at $661,000 after acquiring an additional 294 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Applied Materials by 6.8% in the first quarter. Flagship Harbor Advisors LLC now owns 4,706 shares of the manufacturing equipment provider’s stock valued at $186,000 after acquiring an additional 298 shares during the last quarter. Finally, Successful Portfolios LLC lifted its holdings in Applied Materials by 2.7% in the first quarter. Successful Portfolios LLC now owns 11,975 shares of the manufacturing equipment provider’s stock valued at $475,000 after acquiring an additional 316 shares during the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

Shares of Applied Materials stock traded down $1.70 during trading hours on Monday, reaching $45.85. 252,895 shares of the company were exchanged, compared to its average volume of 9,225,276. Applied Materials, Inc. has a 1 year low of $28.79 and a 1 year high of $52.42. The firm has a fifty day moving average of $45.83. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $42.95 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.41 and a beta of 1.68.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the prior year, the company earned $1.22 earnings per share. The company’s revenue was down 22.7% on a year-over-year basis. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 2.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio is currently 18.88%.

A number of research analysts recently commented on the company. Goldman Sachs Group cut Applied Materials from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, June 4th. Bank of America restated a “neutral” rating and set a $52.00 price target (up from $45.00) on shares of Applied Materials in a research note on Friday, May 17th. Finally, Nomura started coverage on Applied Materials in a research note on Friday, June 7th. They set a “neutral” rating and a $40.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.52.

Applied Materials 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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