Columbia Partners L L C Investment Management Lowers Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Columbia Partners L L C Investment Management decreased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 73.8% during the first quarter, Holdings Channel reports. The fund owned 7,932 shares of the manufacturing equipment provider’s stock after selling 22,362 shares during the period. Columbia Partners L L C Investment Management’s holdings in Applied Materials were worth $308,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC boosted its position in shares of 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 valued at $105,000 after buying an additional 1,180 shares in the last quarter. Pinnacle Bank acquired a new position in Applied Materials during the first quarter worth approximately $113,000. State of Alaska Department of Revenue acquired a new position in Applied Materials during the first quarter worth approximately $114,000. James Investment Research Inc. boosted 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 acquired a new position in Applied Materials during the first quarter worth approximately $124,000. 80.18% of the stock is owned by institutional investors and hedge funds.

Applied Materials, Inc. (AMAT) opened at 46.81 on Monday. The company has a 50-day moving average of $44.47 and a 200 day moving average of $39.76. The company has a market cap of $50.30 billion, a P/E ratio of 19.36 and a beta of 1.81. Applied Materials, Inc. has a one year low of $25.68 and a one year high of $47.86.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 44.7% compared to the same quarter last year. Analysts anticipate that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.85%. Applied Materials’s payout ratio is presently 16.46%.

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A number of equities analysts have recently commented on the company. UBS AG reissued a “buy” rating and set a $51.00 price target (up previously from $44.00) on shares of Applied Materials in a report on Wednesday, May 17th. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Applied Materials in a research report on Monday, May 15th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price target on the stock in a research report on Monday. Royal Bank Of Canada reiterated a “hold” rating and issued a $35.00 price target on shares of Applied Materials in a research report on Tuesday, April 25th. Finally, Bank of America Corporation restated a “buy” rating and set a $54.00 target price (up previously from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and an average target price of $46.62.

About Applied Materials

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

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

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