Mutual of America Capital Management LLC Has $24.73 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mutual of America Capital Management LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,784 shares of the manufacturing equipment provider’s stock after selling 4,308 shares during the period. Mutual of America Capital Management LLC’s holdings in Applied Materials were worth $24,728,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMAT. Redmont Wealth Advisors LLC acquired a new position in shares of Applied Materials during the 1st quarter worth about $26,000. Summit Securities Group LLC bought a new stake in shares of Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of Applied Materials during the 2nd quarter worth about $28,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Applied Materials during the 1st quarter worth about $35,000. Finally, RFP Financial Group LLC boosted its holdings in shares of Applied Materials by 96.6% during the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after buying an additional 85 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

AMAT stock opened at $188.59 on Wednesday. The company has a 50 day simple moving average of $201.65 and a 200 day simple moving average of $210.55. The stock has a market cap of $156.15 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 2.21 and a beta of 1.55. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Research analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the transaction, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on AMAT shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a report on Friday, August 16th. B. Riley cut their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley cut their price target on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $232.00.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.