Jag Capital Management LLC Reduces Position in Applied Materials, Inc. (AMAT)

Jag Capital Management LLC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 270,574 shares of the manufacturing equipment provider’s stock after selling 6,877 shares during the period. Applied Materials comprises approximately 2.6% of Jag Capital Management LLC’s portfolio, making the stock its 11th largest position. Jag Capital Management LLC’s holdings in Applied Materials were worth $13,832,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMAT. Mathes Company Inc. acquired a new position in shares of Applied Materials in the third quarter worth $1,613,000. Prudential Financial Inc. grew its stake in shares of Applied Materials by 1.1% in the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock worth $318,778,000 after acquiring an additional 64,186 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Applied Materials by 5.7% in the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after acquiring an additional 650,755 shares in the last quarter. Paragon Capital Management Ltd acquired a new position in shares of Applied Materials in the third quarter worth $267,000. Finally, Swiss National Bank grew its stake in shares of Applied Materials by 0.4% in the third quarter. Swiss National Bank now owns 3,962,722 shares of the manufacturing equipment provider’s stock worth $206,418,000 after acquiring an additional 17,400 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

In related news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,716 shares of company stock valued at $16,218,746. 0.31% of the stock is owned by corporate insiders.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded up $0.06 on Tuesday, reaching $57.46. 11,479,800 shares of the company were exchanged, compared to its average volume of 12,466,621. Applied Materials, Inc. has a 52-week low of $33.56 and a 52-week high of $60.89. The stock has a market capitalization of $60,780.00, a PE ratio of 18.13, a PEG ratio of 1.12 and a beta of 1.81. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the company earned $0.66 earnings per share. Applied Materials’s quarterly revenue was up 20.4% compared to the same quarter last year. analysts anticipate that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 21st will be given a $0.10 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a yield of 0.70%. Applied Materials’s dividend payout ratio (DPR) is presently 12.62%.

Several equities analysts have commented on AMAT shares. UBS Group upgraded shares of Applied Materials from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 16th. Credit Suisse Group restated a “buy” rating and issued a $62.00 price target on shares of Applied Materials in a research note on Tuesday, September 26th. Stifel Nicolaus restated a “buy” rating on shares of Applied Materials in a research note on Sunday, October 1st. Needham & Company LLC boosted their price target on shares of Applied Materials to $66.00 and gave the stock a “positive” rating in a research note on Friday, November 17th. Finally, Susquehanna Bancshares raised shares of Applied Materials from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $60.00 to $72.00 in a research report on Tuesday, January 16th. Twenty-four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.76.

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About Applied Materials

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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