BSW Wealth Partners Decreases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

BSW Wealth Partners lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,858 shares of the manufacturing equipment provider’s stock after selling 720 shares during the period. BSW Wealth Partners’ holdings in Applied Materials were worth $705,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Jag Capital Management LLC grew its position in shares of Applied Materials by 37.8% during the 1st quarter. Jag Capital Management LLC now owns 34,511 shares of the manufacturing equipment provider’s stock valued at $5,008,000 after acquiring an additional 9,470 shares during the period. Gold Investment Management Ltd. boosted its holdings in Applied Materials by 2.5% in the 1st quarter. Gold Investment Management Ltd. now owns 27,821 shares of the manufacturing equipment provider’s stock worth $4,037,000 after buying an additional 667 shares during the period. 3Chopt Investment Partners LLC bought a new position in Applied Materials in the 1st quarter worth $817,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Applied Materials by 16.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 719,765 shares of the manufacturing equipment provider’s stock worth $104,409,000 after buying an additional 102,311 shares during the period. Finally, Achmea Investment Management B.V. boosted its holdings in Applied Materials by 185.0% in the 1st quarter. Achmea Investment Management B.V. now owns 466,150 shares of the manufacturing equipment provider’s stock worth $67,648,000 after buying an additional 302,605 shares during the period. Institutional investors own 80.56% of the company’s stock.

Insider Activity

In related news, CAO Adam Sanders sold 562 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the transaction, the chief accounting officer now owns 5,300 shares of the company’s stock, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary E. Dickerson purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the transaction, the chief executive officer now owns 1,716,058 shares of the company’s stock, valued at $235,614,763.40. This trade represents a 3.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Cowen dropped their target price on shares of Applied Materials from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 16th. Stifel Nicolaus dropped their target price on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 target price on shares of Applied Materials in a report on Friday, May 16th. Finally, B. Riley dropped their target price on shares of Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.24.

Applied Materials Stock Down 0.2%

Shares of NASDAQ AMAT opened at $183.21 on Friday. The firm’s 50-day moving average price is $163.08 and its 200-day moving average price is $163.32. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $147.03 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 2.04 and a beta of 1.67. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. On average, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has initiated a stock buyback plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.00%. Applied Materials’s dividend payout ratio is presently 22.38%.

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.