Legacy Advisors LLC Purchases 168 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Legacy Advisors LLC boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,229 shares of the manufacturing equipment provider’s stock after buying an additional 168 shares during the period. Legacy Advisors LLC’s holdings in Applied Materials were worth $526,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in Applied Materials during the first quarter worth about $26,000. Summit Securities Group LLC purchased a new stake in shares of Applied Materials in the 2nd quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Applied Materials in the 4th quarter worth $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in Applied Materials in the first quarter worth $35,000. Finally, RFP Financial Group LLC boosted its position in Applied Materials by 96.6% during the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after buying an additional 85 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Materials

In other news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction dated 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 transaction, the director now directly owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Applied Materials news, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $221.62, for a total transaction of $554,050.00. Following the sale, the senior vice president now directly owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction dated 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 sale, the director now 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. Over the last quarter, insiders sold 62,327 shares of company stock valued at $15,338,110. Company insiders own 0.29% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded up $4.28 during trading on Friday, reaching $197.26. 7,313,848 shares of the company traded hands, compared to its average volume of 6,009,392. 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 has a 50 day simple moving average of $214.90 and a 200-day simple moving average of $211.36. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The stock has a market capitalization of $163.33 billion, a PE ratio of 22.67, a P/E/G ratio of 2.45 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. Equities research analysts anticipate that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be given 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 0.81%. Applied Materials’s payout ratio is presently 18.39%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TD Cowen boosted their price objective on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Susquehanna upped their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Deutsche Bank Aktiengesellschaft cut their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. Bank of America upped their price target on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Morgan Stanley boosted their target price on Applied Materials from $223.00 to $224.00 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.14.

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.