Farr Miller & Washington LLC DC bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 2,015 shares of the manufacturing equipment provider’s stock, valued at approximately $269,000.
A number of other institutional investors have also recently bought and sold shares of AMAT. GPS Wealth Strategies Group LLC acquired a new position in shares of Applied Materials during the first quarter valued at approximately $33,000. Infini Master Fund purchased a new position in Applied Materials in the first quarter worth approximately $337,000. Syverson Strege & Co purchased a new position in Applied Materials in the first quarter worth approximately $39,000. Prestige Wealth Management Group LLC boosted its position in shares of Applied Materials by 42.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after buying an additional 88 shares during the period. Finally, Baystate Wealth Management LLC boosted its position in shares of Applied Materials by 404.8% during the first quarter. Baystate Wealth Management LLC now owns 313 shares of the manufacturing equipment provider’s stock worth $42,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 78.40% of the company’s stock.
AMAT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Applied Materials from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, April 16th. Susquehanna Bancshares raised their price target on Applied Materials from $155.00 to $170.00 and gave the stock a “positive” rating in a report on Friday, May 21st. Barclays raised their price target on Applied Materials from $125.00 to $150.00 in a report on Wednesday, April 7th. Needham & Company LLC lifted their price objective on Applied Materials from $130.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, April 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Applied Materials from $146.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, May 21st. Two equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $153.58.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Wednesday, May 19th. The manufacturing equipment provider reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.12. Applied Materials had a net margin of 22.35% and a return on equity of 45.08%. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 41.1% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 6.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 16th. Stockholders of record on Thursday, August 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Wednesday, August 25th. Applied Materials’s dividend payout ratio is presently 23.02%.
In related news, SVP Teri A. Little sold 13,500 shares of the company’s stock in a transaction dated Friday, July 2nd. The shares were sold at an average price of $138.03, for a total value of $1,863,405.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Durn sold 5,500 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $132.96, for a total transaction of $731,280.00. The disclosure for this sale can be found here. Insiders have sold 318,671 shares of company stock worth $44,492,295 over the last ninety days. Insiders own 0.37% of the company’s stock.
Applied Materials Profile
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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