Insight Inv LLC Sells 120 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Insight Inv LLC lessened its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,234 shares of the manufacturing equipment provider’s stock after selling 120 shares during the quarter. Applied Materials makes up about 2.5% of Insight Inv LLC’s holdings, making the stock its 8th largest position. Insight Inv LLC’s holdings in Applied Materials were worth $2,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMAT. Norges Bank acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $1,514,814,000. Swedbank AB acquired a new stake in Applied Materials during the 1st quarter valued at $773,611,000. Wellington Management Group LLP increased its position in Applied Materials by 3,940.1% during the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after buying an additional 2,121,912 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Applied Materials by 126.4% in the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after acquiring an additional 1,259,111 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Applied Materials by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock valued at $12,012,171,000 after acquiring an additional 973,218 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Materials

In other news, insider Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were 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 of the company’s stock, valued at approximately $114,223,763.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the firm’s 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 completion of the transaction, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Applied Materials Stock Performance

Applied Materials stock opened at $177.55 on Tuesday. The stock’s 50 day moving average price is $208.77 and its 200 day moving average price is $211.26. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The firm has a market capitalization of $146.37 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.08 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. Applied Materials’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

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 issued 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 0.90%. Applied Materials’s dividend payout ratio is presently 18.39%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMAT. Jefferies Financial Group lowered shares of Applied Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $215.00 to $210.00 in a research report on Monday, May 13th. 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. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. Raymond James upped their price target on shares of Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Finally, Wells Fargo & Company lifted their price target on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.