Applied Materials, Inc. (NASDAQ:AMAT) Stock Holdings Trimmed by Sienna Gestion

Sienna Gestion cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,005 shares of the manufacturing equipment provider’s stock after selling 139 shares during the period. Applied Materials makes up about 2.4% of Sienna Gestion’s holdings, making the stock its 4th largest holding. Sienna Gestion’s holdings in Applied Materials were worth $26,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Applied Materials in the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in Applied Materials in the first quarter worth approximately $26,000. PSI Advisors LLC increased its stake in Applied Materials by 56.0% during the second 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 last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials in the first quarter valued at $35,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Buying and Selling at Applied Materials

In other news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the sale, the director now directly owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Applied Materials Trading Down 1.3 %

Shares of NASDAQ:AMAT opened at $186.14 on Thursday. The company has a market cap of $154.12 billion, a PE ratio of 21.40, a P/E/G ratio of 2.21 and a beta of 1.55. The company’s 50 day moving average is $200.27 and its two-hundred day moving average is $210.38. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 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 analyst estimates of $6.68 billion. During the same quarter in the prior year, the company 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 predict that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Analysts Set New Price Targets

Several analysts recently issued reports on AMAT shares. Citigroup reduced their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft reduced 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. B. Riley lowered their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Wells Fargo & Company boosted their target price on Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Finally, Stifel Nicolaus lowered their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

About Applied Materials

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.