Flagship Harbor Advisors LLC Raises Position in Applied Materials, Inc. (AMAT)

Flagship Harbor Advisors LLC increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 6.8% in the 1st quarter, HoldingsChannel reports. The fund owned 4,706 shares of the manufacturing equipment provider’s stock after buying an additional 298 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Applied Materials were worth $186,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of Applied Materials by 13.6% in the 4th quarter. Bank of New York Mellon Corp now owns 23,108,959 shares of the manufacturing equipment provider’s stock worth $756,588,000 after acquiring an additional 2,772,739 shares in the last quarter. FMR LLC increased its stake in shares of Applied Materials by 52.1% in the 4th quarter. FMR LLC now owns 22,370,392 shares of the manufacturing equipment provider’s stock worth $732,406,000 after acquiring an additional 7,664,767 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Applied Materials by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock worth $459,453,000 after acquiring an additional 794,347 shares in the last quarter. Norges Bank bought a new position in shares of Applied Materials in the 4th quarter worth about $407,503,000. Finally, Northern Trust Corp grew its position in Applied Materials by 3.5% during the 4th quarter. Northern Trust Corp now owns 12,008,825 shares of the manufacturing equipment provider’s stock valued at $393,169,000 after purchasing an additional 405,659 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

In other news, SVP Steve G. Ghanayem sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total transaction of $1,067,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Omkaram Nalamasu sold 143,255 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $40.73, for a total transaction of $5,834,776.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 170,255 shares of company stock worth $6,987,176. Insiders own 0.44% of the company’s stock.

Shares of NASDAQ AMAT opened at $43.95 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.74 and a debt-to-equity ratio of 0.65. The stock has a market cap of $41.67 billion, a PE ratio of 9.88, a P/E/G ratio of 1.69 and a beta of 1.64. Applied Materials, Inc. has a 52-week low of $28.79 and a 52-week high of $56.94.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.71 billion. Applied Materials had a net margin of 23.50% and a return on equity of 58.28%. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 EPS. On average, equities research analysts forecast that Applied Materials, Inc. will post 2.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.

Several analysts recently commented on the stock. ValuEngine raised shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Argus reissued a “buy” rating on shares of Applied Materials in a research report on Tuesday, February 19th. DZ Bank downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Finally, Stifel Nicolaus cut their price objective on shares of Applied Materials from $63.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, February 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. Applied Materials has an average rating of “Buy” and a consensus price target of $49.90.

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Applied Materials Company Profile

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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