Palladium Partners LLC trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 87.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,505 shares of the manufacturing equipment provider’s stock after selling 136,643 shares during the quarter. Palladium Partners LLC’s holdings in Applied Materials were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wedbush Securities Inc. raised its holdings in shares of Applied Materials by 1.9% in the 4th quarter. Wedbush Securities Inc. now owns 8,679 shares of the manufacturing equipment provider’s stock worth $530,000 after purchasing an additional 159 shares during the period. Cerebellum GP LLC increased its position in Applied Materials by 1.9% in the fourth quarter. Cerebellum GP LLC now owns 9,041 shares of the manufacturing equipment provider’s stock worth $552,000 after buying an additional 172 shares during the last quarter. Optimum Investment Advisors raised its stake in shares of Applied Materials by 4.8% in the fourth quarter. Optimum Investment Advisors now owns 4,400 shares of the manufacturing equipment provider’s stock valued at $269,000 after buying an additional 200 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Applied Materials by 5.9% in the third quarter. Quadrant Capital Group LLC now owns 3,837 shares of the manufacturing equipment provider’s stock valued at $181,000 after buying an additional 215 shares during the period. Finally, Tiemann Investment Advisors LLC lifted its position in shares of Applied Materials by 4.1% during the 3rd quarter. Tiemann Investment Advisors LLC now owns 5,763 shares of the manufacturing equipment provider’s stock valued at $288,000 after buying an additional 226 shares during the last quarter. 79.81% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Craig Hallum reissued a “buy” rating and issued a $79.00 price objective (up previously from $70.00) on shares of Applied Materials in a report on Thursday. Wells Fargo & Co boosted their price objective on Applied Materials from $70.00 to $78.00 and gave the company a “positive” rating in a research note on Thursday. ValuEngine downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. B. Riley increased their target price on shares of Applied Materials from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, DZ Bank downgraded shares of Applied Materials from a “hold” rating to a “sell” rating and set a $46.00 target price for the company. in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.04.
In related news, SVP Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $60.73, for a total value of $3,036,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $62.86, for a total transaction of $188,580.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,053,000 shares of company stock worth $64,335,080. Insiders own 0.41% of the company’s stock.
Shares of AMAT stock traded down $0.52 during trading hours on Friday, reaching $66.85. The stock had a trading volume of 8,053,074 shares, compared to its average volume of 7,004,624. The stock’s fifty day simple moving average is $61.78 and its 200 day simple moving average is $55.12. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. Applied Materials, Inc. has a 12 month low of $36.80 and a 12 month high of $65.68. The firm has a market capitalization of $57.80 billion, a PE ratio of 23.37, a PEG ratio of 2.01 and a beta of 1.64.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.06. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. Applied Materials’s revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 3.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.26%. Applied Materials’s dividend payout ratio (DPR) is currently 27.63%.
About Applied Materials
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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