Utah Retirement Systems cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 197,865 shares of the manufacturing equipment provider’s stock after selling 1,700 shares during the period. Utah Retirement Systems’ holdings in Applied Materials were worth $8,173,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Applied Materials by 3.4% in the first quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock valued at $2,853,797,000 after buying an additional 2,441,471 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after buying an additional 63,912,660 shares during the last quarter. FMR LLC boosted its stake in shares of Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares during the last quarter. Egerton Capital UK LLP boosted its stake in shares of Applied Materials by 18.0% in the second quarter. Egerton Capital UK LLP now owns 13,734,934 shares of the manufacturing equipment provider’s stock valued at $567,390,000 after buying an additional 2,092,326 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Applied Materials by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock valued at $501,248,000 after buying an additional 3,191,737 shares during the last quarter. 79.33% of the stock is owned by institutional investors and hedge funds.

Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.31 on Friday. Applied Materials, Inc. has a 1-year low of $27.56 and a 1-year high of $47.86. The firm has a market capitalization of $46.19 billion, a price-to-earnings ratio of 15.40 and a beta of 1.82. The firm’s 50-day moving average price is $44.65 and its 200 day moving average price is $41.62.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, analysts predict that Applied Materials, Inc. will post $3.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s payout ratio is currently 14.18%.

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A number of equities research analysts have issued reports on AMAT shares. Craig Hallum upped their target price on Applied Materials to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Stifel Nicolaus upped their target price on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Sunday, May 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. UBS AG reaffirmed a “buy” rating and set a $51.00 target price (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, Instinet reaffirmed a “buy” rating and set a $47.00 target price (up previously from $40.00) on shares of Applied Materials in a research report on Sunday, May 21st. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $51.44.

In other news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

Applied Materials Company Profile

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

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