Callodine Capital Management LP Sells 25,000 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Callodine Capital Management LP lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 71.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 10,000 shares of the manufacturing equipment provider’s stock after selling 25,000 shares during the period. Callodine Capital Management LP’s holdings in Applied Materials were worth $397,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Squar Milner Financial Services LLC raised its holdings in Applied Materials by 190.8% in 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 last quarter. Sontag Advisory LLC acquired a new position in Applied Materials in the 4th quarter valued at $30,000. Bruderman Asset Management LLC acquired a new position in Applied Materials in the 4th quarter valued at $31,000. Lenox Wealth Advisors LLC raised its holdings in Applied Materials by 73.7% in the 1st quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock valued at $31,000 after acquiring an additional 331 shares during the last quarter. Finally, Horan Capital Advisors LLC. acquired a new position in Applied Materials in the 1st quarter valued at $31,000. 77.59% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Omkaram Nalamasu sold 143,255 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $40.73, for a total value of $5,834,776.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 2,000 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,255 shares of company stock valued at $6,987,176. 0.44% of the stock is owned by insiders.



Several research analysts have weighed in on AMAT shares. Argus reiterated a “buy” rating on shares of Applied Materials in a report on Tuesday, February 19th. BidaskClub upgraded Applied Materials from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group upped their price objective on Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. B. Riley upgraded Applied Materials from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a report on Friday, May 17th. Finally, ValuEngine upgraded Applied Materials from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $51.43.

AMAT stock opened at $41.50 on Thursday. Applied Materials, Inc. has a 52 week low of $28.79 and a 52 week high of $51.59. The firm has a market cap of $40.95 billion, a PE ratio of 9.33, a PEG ratio of 1.63 and a beta of 1.67. 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 (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the firm earned $1.22 EPS. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, analysts forecast that Applied Materials, Inc. will post 2.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $0.84 annualized dividend and a yield of 2.02%. Applied Materials’s dividend payout ratio is currently 18.88%.

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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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