Applied Materials, Inc. (AMAT) Holdings Cut by Eagle Asset Management Inc.

Eagle Asset Management Inc. trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 174,744 shares of the manufacturing equipment provider’s stock after selling 3,574 shares during the period. Eagle Asset Management Inc.’s holdings in Applied Materials were worth $8,795,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. LeJeune Puetz Investment Counsel LLC bought a new stake in Applied Materials in the 3rd quarter worth about $105,000. Cerebellum GP LLC bought a new stake in Applied Materials in the 4th quarter worth about $122,000. First Personal Financial Services grew its position in Applied Materials by 281.5% in the 3rd quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock worth $134,000 after purchasing an additional 1,900 shares in the last quarter. Zions Bancorporation grew its position in Applied Materials by 349.1% in the 3rd quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock worth $137,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Mosaic Family Wealth LLC grew its position in Applied Materials by 56.1% in the 3rd quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock worth $142,000 after purchasing an additional 984 shares in the last quarter. 79.93% of the stock is owned by institutional investors and hedge funds.

Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at $56.13 on Thursday. The company has a market cap of $59,595.16, a P/E ratio of 21.18, a P/E/G ratio of 1.03 and a beta of 1.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. Applied Materials, Inc. has a 52 week low of $35.55 and a 52 week high of $60.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same period in the prior year, the company posted $0.67 EPS. research analysts predict that Applied Materials, Inc. will post 4.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be paid a dividend of $0.20 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio is presently 15.09%.

Applied Materials announced that its board has authorized a share buyback program on Wednesday, February 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

AMAT has been the topic of a number of research analyst reports. KeyCorp boosted their target price on shares of Applied Materials from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Deutsche Bank boosted their target price on shares of Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Vetr cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price on the stock. in a research note on Tuesday, November 21st. Nomura reiterated a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. Finally, Citigroup boosted their target price on shares of Applied Materials from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, November 20th. One equities research analyst has rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $64.06.

In related news, Director Stephen R. Forrest sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Insiders have sold a total of 312,716 shares of company stock worth $16,218,746 over the last 90 days. 0.35% of the stock is currently owned by corporate insiders.

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Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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