Northeast Financial Consultants Inc acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the first quarter, HoldingsChannel reports. The institutional investor acquired 5,848 shares of the manufacturing equipment provider’s stock, valued at approximately $232,000.
A number of other hedge funds also recently added to or reduced their stakes in AMAT. Squar Milner Financial Services LLC boosted its position in shares of Applied Materials by 190.8% during the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock valued at $27,000 after acquiring an additional 458 shares during the last quarter. Sontag Advisory LLC bought a new position in shares of Applied Materials during the 4th quarter valued at approximately $30,000. Bruderman Asset Management LLC bought a new position in shares of Applied Materials during the 4th quarter valued at approximately $31,000. Lenox Wealth Advisors LLC boosted its position in shares of Applied Materials by 73.7% during the 1st quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock valued at $31,000 after acquiring an additional 331 shares during the last quarter. Finally, Horan Capital Advisors LLC. bought a new position in shares of Applied Materials during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 77.59% of the company’s stock.
A number of analysts recently issued reports on the company. Cowen raised their price target on Applied Materials from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Citigroup raised their price target on Applied Materials from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Wells Fargo & Co raised their price target on Applied Materials from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, June 4th. Finally, Nomura assumed coverage on Applied Materials in a research report on Friday, June 7th. They issued a “neutral” rating and a $40.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.43.
AMAT stock traded down $0.71 during midday trading on Friday, reaching $40.94. The company’s stock had a trading volume of 209,151 shares, compared to its average volume of 9,946,394. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a 1 year low of $28.79 and a 1 year high of $51.04. The firm has a market cap of $38.09 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.55 and a beta of 1.67.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. Research analysts expect that Applied Materials, Inc. will post 2.98 EPS for the current year.
The firm 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 $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.05%. Applied Materials’s payout ratio is 18.88%.
In other Applied Materials news, Director Stephen R. Forrest sold 2,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $42.45, for a total value of $84,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Steve G. Ghanayem sold 25,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total value of $1,067,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,255 shares of company stock worth $6,987,176. Insiders own 0.44% of the company’s stock.
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Applied Materials 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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