Occidental Asset Management LLC Purchases 2,267 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Occidental Asset Management LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 24.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,605 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,267 shares during the quarter. Occidental Asset Management LLC’s holdings in Applied Materials were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Applied Materials by 16.3% in the first quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock worth $1,032,245,000 after buying an additional 3,656,960 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Applied Materials by 14,417.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,272,881 shares of the manufacturing equipment provider’s stock worth $50,482,000 after buying an additional 1,264,113 shares in the last quarter. Cambiar Investors LLC purchased a new position in shares of Applied Materials in the second quarter worth $46,819,000. Bank of Montreal Can raised its stake in Applied Materials by 39.0% during the first quarter. Bank of Montreal Can now owns 3,673,207 shares of the manufacturing equipment provider’s stock valued at $145,679,000 after purchasing an additional 1,030,333 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Applied Materials by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after purchasing an additional 794,347 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

AMAT stock traded up $0.07 during mid-day trading on Thursday, reaching $46.78. 603,774 shares of the stock traded hands, compared to its average volume of 8,919,568. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. Applied Materials, Inc. has a one year low of $28.79 and a one year high of $52.42. The firm has a market cap of $43.49 billion, a PE ratio of 10.47, a PEG ratio of 2.35 and a beta of 1.68. The company has a 50-day simple moving average of $46.99.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s payout ratio is presently 18.88%.

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Applied Materials in a research note on Sunday, May 19th. Bank of America reaffirmed a “neutral” rating and set a $52.00 price target (up previously from $45.00) on shares of Applied Materials in a research note on Friday, May 17th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, June 4th. Royal Bank of Canada reaffirmed a “buy” rating and set a $54.00 price target on shares of Applied Materials in a research note on Wednesday. Finally, Nomura assumed coverage on shares of Applied Materials in a research note on Friday, June 7th. They set a “neutral” rating and a $40.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $51.00.

Applied Materials Company Profile

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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