Cohen Lawrence B Reduces Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

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Cohen Lawrence B trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,749 shares of the manufacturing equipment provider’s stock after selling 910 shares during the period. Cohen Lawrence B’s holdings in Applied Materials were worth $977,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMAT. Squar Milner Financial Services LLC lifted its position in Applied Materials by 190.8% during the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock valued at $27,000 after acquiring an additional 458 shares during the period. Princeton Global Asset Management LLC purchased a new position in Applied Materials in the first quarter worth about $27,000. Horan Capital Advisors LLC. purchased a new position in Applied Materials in the first quarter worth about $31,000. Cable Hill Partners LLC raised its holdings in Applied Materials by 378.4% in the first quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after buying an additional 632 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new position in Applied Materials in the first quarter worth about $33,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Applied Materials stock opened at $48.06 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a 1 year low of $28.79 and a 1 year high of $52.42. The business’s 50-day simple moving average is $46.90. The company has a market cap of $44.14 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 2.39 and a beta of 1.68.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the business earned $1.22 EPS. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. Research analysts predict that Applied Materials, Inc. will post 2.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s payout ratio is 18.88%.

A number of analysts have recently commented on AMAT shares. Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, June 4th. Bank of America restated a “neutral” rating and set a $52.00 target price (up from $45.00) on shares of Applied Materials in a research report on Friday, May 17th. Nomura assumed coverage on shares of Applied Materials in a research report on Friday, June 7th. They set a “neutral” rating and a $40.00 target price for the company. Cowen boosted their target price on shares of Applied Materials from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Finally, UBS Group boosted their target price on shares of Applied Materials from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Applied Materials has an average rating of “Buy” and a consensus target price of $50.35.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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

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