Penobscot Investment Management Company Inc. maintained its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,000 shares of the manufacturing equipment provider’s stock at the end of the second quarter. Penobscot Investment Management Company Inc.’s holdings in Applied Materials were worth $661,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. MCF Advisors LLC increased its stake in shares of Applied Materials by 0.3% in the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 10 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Applied Materials by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after buying an additional 29 shares in the last quarter. Adirondack Trust Co. increased its stake in shares of Applied Materials by 1.1% in the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock worth $151,000 after buying an additional 40 shares in the last quarter. RMB Capital Management LLC increased its stake in shares of Applied Materials by 1.0% in the first quarter. RMB Capital Management LLC now owns 6,280 shares of the manufacturing equipment provider’s stock worth $244,000 after buying an additional 60 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its stake in shares of Applied Materials by 0.5% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock worth $864,000 after buying an additional 97 shares in the last quarter. Institutional investors own 79.33% of the company’s stock.
Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 44.30 on Friday. The stock has a 50 day moving average price of $44.44 and a 200 day moving average price of $41.31. 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 $47.45 billion, a PE ratio of 15.75 and a beta of 1.82.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a return on equity of 42.08% and a net margin of 22.08%. Applied Materials’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. Equities research analysts anticipate that Applied Materials, Inc. will post $3.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s dividend payout ratio is currently 14.18%.
A number of analysts have commented on the company. B. Riley reiterated a “buy” rating and issued a $56.00 price objective on shares of Applied Materials in a research report on Saturday, May 20th. UBS AG restated 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. Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price for the company in a research report on Thursday, August 10th. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $61.00 target price (up previously from $55.00) on shares of Applied Materials in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Applied Materials has a consensus rating of “Buy” and an average price target of $43.34.
About Applied Materials
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