Deltec Asset Management LLC Purchases Shares of 44,500 Applied Materials, Inc. (AMAT)

Deltec Asset Management LLC purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the second quarter, Holdings Channel reports. The fund purchased 44,500 shares of the manufacturing equipment provider’s stock, valued at approximately $2,055,000.

Other hedge funds also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. raised its holdings in shares of Applied Materials by 368.3% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock worth $114,000 after purchasing an additional 1,617 shares in the last quarter. Kaizen Advisory LLC raised its holdings in shares of Applied Materials by 147.4% in the 2nd quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock worth $118,000 after purchasing an additional 1,526 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Applied Materials by 127.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock worth $141,000 after purchasing an additional 1,709 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Applied Materials by 24.3% in the 2nd quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock worth $142,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Optimum Investment Advisors bought a new stake in shares of Applied Materials in the 1st quarter worth approximately $147,000. Institutional investors own 78.36% of the company’s stock.

AMAT has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 17th. Vetr downgraded shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.08 target price on the stock. in a report on Tuesday, April 17th. ValuEngine downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Susquehanna Bancshares dropped their target price on shares of Applied Materials from $73.00 to $65.00 and set a “positive” rating on the stock in a report on Monday, July 9th. Finally, Needham & Company LLC dropped their target price on shares of Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Monday, May 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $63.72.

Applied Materials stock opened at $48.25 on Tuesday. The company has a market capitalization of $48.52 billion, a PE ratio of 11.83, a PEG ratio of 0.80 and a beta of 1.63. The company has a current ratio of 2.60, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75. Applied Materials, Inc. has a fifty-two week low of $42.93 and a fifty-two week high of $62.40.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.45 billion. Applied Materials had a net margin of 19.24% and a return on equity of 51.65%. During the same period last year, the firm posted $0.79 earnings per share. equities research analysts predict that Applied Materials, Inc. will post 4.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Thursday, August 23rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 24.62%.

About Applied Materials

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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