Applied Materials, Inc. (NASDAQ:AMAT) Position Cut by Perennial Advisors LLC

Perennial Advisors LLC trimmed its stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 2.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,645 shares of the manufacturing equipment provider’s stock after selling 502 shares during the quarter. Perennial Advisors LLC’s holdings in Applied Materials were worth $3,845,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMAT. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Applied Materials during the fourth quarter valued at about $27,000. DSM Capital Partners LLC bought a new stake in shares of Applied Materials during the fourth quarter valued at about $37,000. Accent Capital Management LLC bought a new stake in shares of Applied Materials during the fourth quarter valued at about $41,000. Richardson Financial Services Inc. bought a new stake in shares of Applied Materials during the fourth quarter valued at about $43,000. Finally, First United Bank & Trust bought a new stake in shares of Applied Materials during the fourth quarter valued at about $45,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $230.00 price objective on shares of Applied Materials in a research note on Wednesday, May 15th. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Jefferies Financial Group lowered Applied Materials from a “buy” rating to a “hold” rating and lowered their target price for the stock from $215.00 to $210.00 in a report on Monday, May 13th. Mizuho upped their price target on shares of Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Bank of America raised their price objective on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.84.

Check Out Our Latest Research Report on Applied Materials

Applied Materials Trading Down 3.2 %

Applied Materials stock traded down $7.84 during midday trading on Thursday, reaching $239.99. The stock had a trading volume of 7,043,903 shares, compared to its average volume of 5,728,743. The firm’s fifty day simple moving average is $214.36 and its two-hundred day simple moving average is $192.02. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $249.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a market cap of $198.70 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 3.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same quarter last year, the business posted $2.00 EPS. The company’s revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the transaction, the senior vice president now owns 76,212 shares in the company, valued at approximately $16,890,103.44. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock valued at $6,598,500 in the last quarter. Company insiders own 0.29% of the company’s stock.

Applied Materials Company Profile

(Free Report)

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.

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

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