Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Audent Global Asset Management LLC

Audent Global Asset Management LLC increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 360.2% in the 4th quarter, HoldingsChannel reports. The firm owned 31,155 shares of the manufacturing equipment provider’s stock after purchasing an additional 24,385 shares during the period. Applied Materials makes up 3.3% of Audent Global Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. Audent Global Asset Management LLC’s holdings in Applied Materials were worth $5,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LaFleur & Godfrey LLC boosted its position in shares of Applied Materials by 17.2% during the 4th quarter. LaFleur & Godfrey LLC now owns 17,246 shares of the manufacturing equipment provider’s stock worth $2,805,000 after acquiring an additional 2,536 shares in the last quarter. Eagle Capital Management LLC boosted its position in shares of Applied Materials by 1.8% during the 4th quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider’s stock worth $2,603,000 after acquiring an additional 290 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Applied Materials by 28.0% during the 4th quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider’s stock worth $2,061,000 after acquiring an additional 2,771 shares in the last quarter. RFG Advisory LLC boosted its position in shares of Applied Materials by 5.7% during the 4th quarter. RFG Advisory LLC now owns 5,996 shares of the manufacturing equipment provider’s stock worth $975,000 after acquiring an additional 321 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in shares of Applied Materials by 5.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,048 shares of the manufacturing equipment provider’s stock worth $1,309,000 after acquiring an additional 407 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Adam Sanders sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the transaction, the chief accounting officer now directly owns 6,077 shares of the company’s stock, valued at $880,131.91. This trade represents a 6.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary E. Dickerson acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This represents a 3.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMAT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Applied Materials in a research report on Friday, May 16th. Citigroup upped their price objective on Applied Materials from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective on Applied Materials from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. B. Riley reduced their target price on Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.48.

Applied Materials Stock Down 1.9%

AMAT opened at $157.51 on Tuesday. The business has a 50 day moving average price of $150.21 and a two-hundred day moving average price of $164.15. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market cap of $127.97 billion, a PE ratio of 20.59, a P/E/G ratio of 1.81 and a beta of 1.71. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 EPS. As a group, research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its board has authorized a stock repurchase plan on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 22.38%.

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.