J. Stern & Co. LLP Takes $661,000 Position in Applied Materials, Inc. (NASDAQ:AMAT)

J. Stern & Co. LLP bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,800 shares of the manufacturing equipment provider’s stock, valued at approximately $661,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First National Bank of Mount Dora Trust Investment Services purchased a new stake in Applied Materials in the first quarter valued at approximately $1,764,000. GAMMA Investing LLC increased its holdings 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 worth $2,121,000 after buying an additional 4,239 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Applied Materials by 5.4% in the 1st quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock worth $699,000 after buying an additional 172 shares during the period. Sivia Capital Partners LLC boosted its holdings in Applied Materials by 5.7% in the second quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after acquiring an additional 126 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new stake in Applied Materials during the first quarter valued at about $243,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $192.16 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The firm’s 50-day simple moving average is $198.35 and its 200-day simple moving average is $210.17. The firm has a market cap of $159.10 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Applied Materials’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

AMAT has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Friday, August 16th. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price target on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, UBS Group decreased their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials presently 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.