Torray Investment Partners LLC Has $12.06 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Torray Investment Partners LLC lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,084 shares of the manufacturing equipment provider’s stock after selling 8,041 shares during the quarter. Applied Materials accounts for about 1.8% of Torray Investment Partners LLC’s holdings, making the stock its 25th largest position. Torray Investment Partners LLC’s holdings in Applied Materials were worth $12,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. Summit Securities Group LLC purchased a new stake in shares of Applied Materials in the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials in the 1st quarter valued at approximately $26,000. PSI Advisors LLC increased its holdings in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in Applied Materials during the fourth quarter valued at approximately $27,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Applied Materials during the 1st quarter valued at $35,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Applied Materials news, insider Prabu G. Raja sold 50,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 458,417 shares in the company, valued at approximately $114,223,763.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the firm’s 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 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Prabu G. Raja sold 50,000 shares of the company’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 sale, the insider now directly owns 458,417 shares in the company, valued at $114,223,763.89. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT stock traded down $5.49 during trading on Friday, hitting $174.75. The company had a trading volume of 8,887,931 shares, compared to its average volume of 6,066,871. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. 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 $144.69 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 2.35 and a beta of 1.56. The stock’s 50-day moving average is $209.96 and its two-hundred day moving average is $211.12.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 EPS. As a group, analysts predict that Applied Materials, Inc. will post 8.47 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

Analysts Set New Price Targets

Several brokerages have commented on AMAT. Raymond James increased their price target on Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Susquehanna upped their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Bank of America increased their price objective on shares of Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.14.

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.