OLD Mutual Customised Solutions Proprietary Ltd. cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,800 shares of the manufacturing equipment provider’s stock after selling 1,700 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Applied Materials were worth $2,762,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Capital Management Associates NY purchased a new position in shares of Applied Materials during the second quarter valued at about $280,000. Credit Agricole S A boosted its stake in Applied Materials by 5,016.8% during the second quarter. Credit Agricole S A now owns 24,100 shares of the manufacturing equipment provider’s stock worth $1,113,000 after acquiring an additional 23,629 shares in the last quarter. American Money Management LLC lifted its stake in shares of Applied Materials by 19.2% in the second quarter. American Money Management LLC now owns 21,660 shares of the manufacturing equipment provider’s stock worth $1,000,000 after buying an additional 3,495 shares in the last quarter. Covington Investment Advisors Inc. bought a new position in shares of Applied Materials in the first quarter worth approximately $1,881,000. Finally, Rampart Investment Management Company LLC lifted its stake in shares of Applied Materials by 11.9% in the second quarter. Rampart Investment Management Company LLC now owns 100,748 shares of the manufacturing equipment provider’s stock worth $4,654,000 after buying an additional 10,687 shares in the last quarter. 77.21% of the stock is owned by institutional investors and hedge funds.

AMAT traded down $0.65 during trading on Friday, hitting $37.24. 9,788,448 shares of the company traded hands, compared to its average volume of 13,537,666. The stock has a market capitalization of $37.99 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.79 and a beta of 1.49. Applied Materials, Inc. has a 1 year low of $36.98 and a 1 year high of $62.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.67 and a current ratio of 2.52.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the business earned $0.86 earnings per share. Applied Materials’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that Applied Materials, Inc. will post 4.45 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 21st. This represents a $0.80 annualized dividend and a yield of 2.15%. Applied Materials’s dividend payout ratio (DPR) is currently 24.62%.

Several brokerages have recently issued reports on AMAT. Susquehanna Bancshares dropped their target price on shares of Applied Materials from $65.00 to $60.00 and set a “positive” rating on the stock in a research note on Wednesday. Deutsche Bank restated a “hold” rating and set a $43.00 price objective (down previously from $58.00) on shares of Applied Materials in a research report on Monday, October 1st. Citigroup lowered their price objective on shares of Applied Materials from $68.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, September 25th. BidaskClub downgraded shares of Applied Materials from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 11th. Finally, Bank of America downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Tuesday, August 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and an average target price of $61.95.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment 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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