Sei Investments Co. lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,093,445 shares of the manufacturing equipment provider’s stock after selling 76,632 shares during the period. Sei Investments Co. owned 0.10% of Applied Materials worth $45,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reliance Trust Co. of Delaware increased its position in Applied Materials by 53.3% in the first quarter. Reliance Trust Co. of Delaware now owns 23,335 shares of the manufacturing equipment provider’s stock worth $907,000 after buying an additional 8,116 shares during the last quarter. Reilly Financial Advisors LLC increased its position in 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 worth $105,000 after buying an additional 1,180 shares during the last quarter. Affinity Wealth Management purchased a new position in Applied Materials during the first quarter worth about $247,000. Wealth Enhancement Advisory Services LLC purchased a new position in Applied Materials during the first quarter worth about $771,000. Finally, Hartwell J M Limited Partnership increased its position in Applied Materials by 18.4% in the first quarter. Hartwell J M Limited Partnership now owns 41,100 shares of the manufacturing equipment provider’s stock worth $1,599,000 after buying an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.08 on Friday. Applied Materials, Inc. has a one year low of $27.00 and a one year high of $47.86. The firm has a market capitalization of $46.30 billion, a PE ratio of 17.82 and a beta of 1.82. The firm has a 50-day moving average price of $44.26 and a 200 day moving average price of $40.97. Applied Materials also was the recipient of unusually large options trading on Wednesday. Traders purchased 2,307 call options on the stock. This represents an increase of approximately 118% compared to the average volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.03. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The business’s quarterly revenue was up 44.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share. Analysts anticipate that Applied Materials, Inc. will post $3.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. Applied Materials’s dividend payout ratio is currently 16.46%.

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A number of research analysts recently issued reports on the company. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price objective for the company in a report on Monday, July 24th. B. Riley restated a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a research note on Sunday, July 16th. Cowen and Company restated a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a research note on Friday, July 28th. Bank of America Corporation restated a “buy” rating and issued a $54.00 price target (up from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $40.00 price target (up from $35.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $46.60.

Applied Materials Company Profile

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

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