WoodTrust Financial Corp Cuts Position in Applied Materials, Inc. (NASDAQ:AMAT)

WoodTrust Financial Corp trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,401 shares of the manufacturing equipment provider’s stock after selling 1,763 shares during the quarter. Applied Materials makes up 1.0% of WoodTrust Financial Corp’s investment portfolio, making the stock its 15th largest position. WoodTrust Financial Corp’s holdings in Applied Materials were worth $9,776,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Mutual Advisors LLC grew its position in shares of Applied Materials by 10.2% in the 3rd quarter. Mutual Advisors LLC now owns 6,999 shares of the manufacturing equipment provider’s stock valued at $969,000 after buying an additional 648 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Applied Materials by 9.2% during the third quarter. Bank of Nova Scotia now owns 286,616 shares of the manufacturing equipment provider’s stock worth $39,682,000 after purchasing an additional 24,167 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in shares of Applied Materials by 22.9% in the 3rd quarter. Morningstar Investment Services LLC now owns 4,709 shares of the manufacturing equipment provider’s stock valued at $651,000 after purchasing an additional 877 shares during the last quarter. CWA Asset Management Group LLC boosted its position in shares of Applied Materials by 3.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 7,440 shares of the manufacturing equipment provider’s stock valued at $1,030,000 after purchasing an additional 257 shares during the period. Finally, Teza Capital Management LLC grew its stake in Applied Materials by 81.9% during the 3rd quarter. Teza Capital Management LLC now owns 57,842 shares of the manufacturing equipment provider’s stock worth $8,008,000 after buying an additional 26,042 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Shares of AMAT traded up $3.46 during mid-day trading on Friday, reaching $235.99. 6,387,433 shares of the company’s stock were exchanged, compared to its average volume of 5,592,667. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $249.42. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $218.22 and a two-hundred day simple moving average of $195.56. The company has a market cap of $195.39 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 3.04 and a beta of 1.56.

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

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

Insider Activity at Applied Materials

In related news, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now directly owns 108,356 shares in the company, valued at $24,091,873.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Prabu G. Raja sold 50,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was 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 of the company’s stock, valued at approximately $114,223,763.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the sale, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,827 shares of company stock valued at $21,382,560. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AMAT has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Mizuho increased their price target on shares of Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. UBS Group lifted their price objective on shares of Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Wells Fargo & Company increased their target price on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $230.00 price target on shares of Applied Materials in a report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $221.84.

Applied Materials Company 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.