ClariVest Asset Management LLC Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

ClariVest Asset Management LLC raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 27,418.2% in the 1st quarter, HoldingsChannel reports. The firm owned 24,216 shares of the manufacturing equipment provider’s stock after purchasing an additional 24,128 shares during the period. ClariVest Asset Management LLC’s holdings in Applied Materials were worth $4,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials during the 1st quarter worth $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Applied Materials during the fourth quarter valued at about $27,000. DSM Capital Partners LLC bought a new stake in Applied Materials during the fourth quarter worth about $37,000. Accent Capital Management LLC purchased a new position in shares of Applied Materials in the 4th quarter worth about $41,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Applied Materials during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $260.00 target price on shares of Applied Materials in a research report on Friday, May 17th. 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 report on Wednesday, June 5th. JPMorgan Chase & Co. increased their target price on shares of Applied Materials from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Stifel Nicolaus reissued a “buy” rating and issued a $230.00 price target on shares of Applied Materials in a research note on Wednesday, May 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.84.

Insiders Place Their Bets

In related news, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Teri A. Little sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the completion of the transaction, the senior vice president now owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the sale, the director now directly owns 49,185 shares in the company, valued at $11,639,630.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,827 shares of company stock worth $21,382,560. 0.29% of the stock is owned by corporate insiders.

Applied Materials Trading Up 0.9 %

Shares of NASDAQ:AMAT traded up $2.14 on Friday, hitting $243.40. The company had a trading volume of 5,396,287 shares, compared to its average volume of 4,767,457. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. 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 firm’s 50-day simple moving average is $227.53 and its two-hundred day simple moving average is $201.66. The firm has a market capitalization of $201.53 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 3.16 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued 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 during the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the business posted $2.00 earnings per share. Applied Materials’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

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

About Applied Materials

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.