Intech Investment Management LLC Sells 20,424 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Intech Investment Management LLC cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 38.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 32,519 shares of the manufacturing equipment provider’s stock after selling 20,424 shares during the quarter. Intech Investment Management LLC’s holdings in Applied Materials were worth $7,674,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. First National Bank of Mount Dora Trust Investment Services purchased a new stake in Applied Materials in the 1st quarter worth approximately $1,764,000. GAMMA Investing LLC raised its position in shares of Applied Materials by 89.3% during the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after purchasing an additional 4,239 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Applied Materials by 5.4% during the 1st quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock valued at $699,000 after buying an additional 172 shares in the last quarter. Calton & Associates Inc. bought a new position in Applied Materials in the 1st quarter worth $243,000. Finally, Avantax Advisory Services Inc. increased its stake in Applied Materials by 17.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 23,949 shares of the manufacturing equipment provider’s stock worth $4,939,000 after buying an additional 3,529 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Applied Materials stock opened at $192.16 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The firm has a market capitalization of $159.10 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The company’s 50-day moving average is $198.35 and its 200 day moving average is $210.16.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the business earned $1.90 EPS. Applied Materials’s revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. Applied Materials’s payout ratio is 18.39%.

Analyst Ratings Changes

AMAT has been the subject of a number of recent analyst reports. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Stifel Nicolaus dropped their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. B. Riley reduced their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Wells Fargo & Company upped their target price on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average target price of $231.05.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.