Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by CCM Investment Advisers LLC

CCM Investment Advisers LLC raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,777 shares of the manufacturing equipment provider’s stock after acquiring an additional 84 shares during the period. Applied Materials makes up 2.4% of CCM Investment Advisers LLC’s holdings, making the stock its 9th biggest holding. CCM Investment Advisers LLC’s holdings in Applied Materials were worth $20,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Bleakley Financial Group LLC boosted its stake in shares of Applied Materials by 5.7% in the fourth quarter. Bleakley Financial Group LLC now owns 30,140 shares of the manufacturing equipment provider’s stock valued at $4,885,000 after purchasing an additional 1,628 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Applied Materials by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 322,140 shares of the manufacturing equipment provider’s stock worth $52,209,000 after acquiring an additional 5,720 shares during the last quarter. Dearborn Partners LLC purchased a new position in Applied Materials in the fourth quarter worth approximately $218,000. Turtle Creek Wealth Advisors LLC purchased a new position in Applied Materials in the fourth quarter worth approximately $3,256,000. Finally, PBMares Wealth Management LLC purchased a new position in Applied Materials in the fourth quarter worth approximately $219,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMAT shares. Evercore ISI started coverage on shares of Applied Materials in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price target for the company. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. Needham & Company LLC restated a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a research report on Friday, May 17th. Raymond James boosted their price objective on shares of Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Finally, Citigroup reduced their price objective on shares of Applied Materials from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total value of $12,458,500.00. Following the transaction, the insider now directly owns 458,417 shares in the company, valued at approximately $114,223,763.89. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the completion of the transaction, the insider now owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the transaction, the director now directly owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,827 shares of company stock worth $21,382,560. Corporate insiders own 0.29% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT traded up $0.63 on Friday, reaching $191.18. 5,049,886 shares of the company were exchanged, compared to its average volume of 5,933,131. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The firm has a market cap of $158.29 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56. The company has a 50-day moving average of $224.54 and a 200-day moving average of $208.09.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same period in the previous year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Applied Materials Profile

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.