Acadian Asset Management LLC Has $1.36 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Acadian Asset Management LLC lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 65.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,877 shares of the manufacturing equipment provider’s stock after selling 62,460 shares during the period. Acadian Asset Management LLC’s holdings in Applied Materials were worth $1,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMAT. Vanguard Group Inc. boosted its position in shares of Applied Materials by 3.4% in the first quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock valued at $2,853,797,000 after buying an additional 2,441,471 shares in the last quarter. BlackRock Inc. raised its position 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 worth $2,606,676,000 after buying an additional 63,912,660 shares during the period. FMR LLC raised its position 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 worth $1,245,311,000 after buying an additional 4,604,275 shares during the period. Ameriprise Financial Inc. raised its position in Applied Materials by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock worth $501,248,000 after buying an additional 3,191,737 shares during the period. Finally, Egerton Capital UK LLP bought a new position in Applied Materials during the first quarter worth $452,897,000. 79.33% of the stock is owned by institutional investors and hedge funds.

Shares of Applied Materials, Inc. (AMAT) traded up 2.74% during trading on Friday, reaching $44.30. The company’s stock had a trading volume of 20,996,205 shares. The company has a market cap of $47.45 billion, a PE ratio of 15.75 and a beta of 1.82. The firm’s 50-day moving average is $44.44 and its 200 day moving average is $41.31. Applied Materials, Inc. has a 52-week low of $27.56 and a 52-week high of $47.86.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a return on equity of 42.08% and a net margin of 22.08%. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, equities research analysts predict that Applied Materials, Inc. will post $3.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s dividend payout ratio is presently 14.18%.

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AMAT has been the subject of a number of recent analyst reports. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price target for the company in a research report on Monday, July 31st. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price target on shares of Applied Materials in a research report on Monday, August 14th. DA Davidson reissued a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research note on Monday, July 10th. Stifel Nicolaus increased their price objective on Applied Materials from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $50.00 price objective on shares of Applied Materials in a research note on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $43.34.

About Applied Materials

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

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