Olympiad Research LP Has $248,000 Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Olympiad Research LP trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,529 shares of the manufacturing equipment provider’s stock after selling 92 shares during the period. Olympiad Research LP’s holdings in Applied Materials were worth $248,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Elevatus Welath Management boosted its stake in shares of Applied Materials by 33.0% in the 4th quarter. Elevatus Welath Management now owns 20,347 shares of the manufacturing equipment provider’s stock valued at $3,298,000 after purchasing an additional 5,048 shares in the last quarter. Quaker Wealth Management LLC boosted its stake in shares of Applied Materials by 3.6% in the 4th quarter. Quaker Wealth Management LLC now owns 17,702 shares of the manufacturing equipment provider’s stock valued at $2,869,000 after purchasing an additional 622 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of Applied Materials in the 4th quarter valued at approximately $1,278,000. Stifel Financial Corp boosted its stake in shares of Applied Materials by 3.7% in the 4th quarter. Stifel Financial Corp now owns 735,530 shares of the manufacturing equipment provider’s stock valued at $119,220,000 after purchasing an additional 25,993 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Applied Materials by 59.7% in the 4th quarter. TD Asset Management Inc now owns 1,322,656 shares of the manufacturing equipment provider’s stock valued at $214,363,000 after purchasing an additional 494,496 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

Shares of NASDAQ AMAT traded down $0.56 during midday trading on Thursday, hitting $218.49. 1,252,527 shares of the company’s stock were exchanged, compared to its average volume of 5,735,376. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $225.07. 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 cap of $180.90 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.89 and a beta of 1.58. The business’s fifty day moving average price is $207.52 and its two-hundred day moving average price is $183.50.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.12. The business had revenue of $6.65 billion during 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%. Applied Materials’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 earnings per share. As a group, research analysts forecast that Applied Materials, Inc. will post 8.32 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a yield of 0.73%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio is currently 18.39%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMAT shares. Wells Fargo & Company raised their price target on shares of Applied Materials from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Citigroup raised their price objective on shares of Applied Materials from $170.00 to $211.00 and gave the company a “buy” rating in a report on Friday, February 16th. UBS Group raised their price objective on shares of Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. The Goldman Sachs Group raised their price target on shares of Applied Materials from $156.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Mizuho raised their price target on shares of Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.64.

Get Our Latest Research Report on AMAT

Insiders Place Their Bets

In other news, CFO Brice Hill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

About Applied Materials

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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