Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Profund Advisors LLC

Profund Advisors LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,559 shares of the manufacturing equipment provider’s stock after acquiring an additional 7,593 shares during the period. Applied Materials accounts for approximately 1.2% of Profund Advisors LLC’s portfolio, making the stock its 12th biggest holding. Profund Advisors LLC’s holdings in Applied Materials were worth $31,991,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the first quarter worth approximately $26,000. PSI Advisors LLC grew its stake in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after acquiring an additional 56 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $192.16 on Friday. The firm has a 50-day moving average of $198.35 and a two-hundred day moving average of $210.18. 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 stock has a market cap of $159.10 billion, a P/E ratio of 22.09, a PEG 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.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 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 firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. Applied Materials’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts expect that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMAT has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Morgan Stanley cut their price objective on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. 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 research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus price target of $231.05.

Applied Materials Company Profile

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.