Applied Materials, Inc. (NASDAQ:AMAT) Position Cut by OLD National Bancorp IN

OLD National Bancorp IN cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,270 shares of the manufacturing equipment provider’s stock after selling 955 shares during the period. OLD National Bancorp IN’s holdings in Applied Materials were worth $507,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC raised its position in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares during the period. Pinnacle Bank purchased a new position in Applied Materials during the first quarter worth about $113,000. State of Alaska Department of Revenue purchased a new position in Applied Materials during the first quarter worth about $114,000. James Investment Research Inc. raised its position in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the period. Finally, Clean Yield Group purchased a new position in Applied Materials during the first quarter worth about $124,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Applied Materials, Inc. (AMAT) traded up 2.50% during trading on Friday, hitting $43.08. The stock had a trading volume of 10,761,599 shares. Applied Materials, Inc. has a 52 week low of $26.86 and a 52 week high of $47.86. The firm has a market cap of $46.30 billion, a PE ratio of 17.82 and a beta of 1.82. The company’s 50-day moving average is $44.26 and its 200 day moving average is $40.97.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the business earned $0.34 EPS. The firm’s revenue was up 44.7% compared to the same quarter last year. Equities analysts expect that Applied Materials, Inc. will post $3.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s payout ratio is 16.46%.

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AMAT has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a report on Sunday, May 21st. Deutsche Bank AG restated a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of Applied Materials in a report on Friday, May 19th. UBS AG restated a “buy” rating and issued a $51.00 target price (up from $44.00) on shares of Applied Materials in a report on Wednesday, May 17th. Instinet restated a “buy” rating and issued a $47.00 target price (up from $40.00) on shares of Applied Materials in a report on Sunday, May 21st. Finally, Needham & Company LLC upped their target price on shares of Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a report on Sunday, May 21st. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.60.

Applied Materials Company Profile

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

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