Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Increased by Algebris UK Ltd

Algebris UK Ltd lifted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,004 shares of the manufacturing equipment provider’s stock after buying an additional 1,271 shares during the quarter. Applied Materials makes up 11.3% of Algebris UK Ltd’s holdings, making the stock its 3rd largest position. Algebris UK Ltd’s holdings in Applied Materials were worth $42,278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Modera Wealth Management LLC grew its stake in shares of Applied Materials by 3.6% in the third quarter. Modera Wealth Management LLC now owns 8,287 shares of the manufacturing equipment provider’s stock valued at $1,147,000 after buying an additional 285 shares in the last quarter. Wellington Management Group LLP raised its stake in Applied Materials by 40.9% during the 3rd quarter. Wellington Management Group LLP now owns 53,854 shares of the manufacturing equipment provider’s stock valued at $7,456,000 after acquiring an additional 15,637 shares during the last quarter. Financial Insights Inc. acquired a new position in Applied Materials during the 3rd quarter worth approximately $328,000. Raleigh Capital Management Inc. increased its position in Applied Materials by 894.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 2,794 shares of the manufacturing equipment provider’s stock worth $387,000 after purchasing an additional 2,513 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in Applied Materials during the 4th quarter worth approximately $2,136,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Applied Materials stock traded up $2.14 during midday trading on Friday, hitting $243.40. The stock had a trading volume of 5,396,287 shares, compared to its average volume of 4,767,457. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $201.53 billion, a PE ratio of 27.98, a P/E/G ratio of 3.16 and a beta of 1.56. The firm’s fifty day moving average is $227.53 and its two-hundred day moving average is $201.40.

Applied Materials (NASDAQ:AMAT) last released its 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 business had revenue of $6.65 billion for the quarter, compared to analyst estimates 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 was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 earnings per share. On average, research analysts forecast that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio is currently 18.39%.

Insider Activity

In related news, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was 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 directly owns 458,417 shares in the company, valued at approximately $114,223,763.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now directly owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Prabu G. Raja sold 50,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The disclosure for this sale can be found here. Insiders sold 89,827 shares of company stock worth $21,382,560 over the last three months. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $165.00 to $225.00 in a report on Wednesday, June 5th. Mizuho raised their price objective on Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Jefferies Financial Group cut shares of Applied Materials from a “buy” rating to a “hold” rating and cut their target price for the stock from $215.00 to $210.00 in a report on Monday, May 13th. Finally, Bank of America lifted their price target on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.