Sage Mountain Advisors LLC Acquires 1,509 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Sage Mountain Advisors LLC lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 35.8% during the 1st quarter, HoldingsChannel reports. The firm owned 5,723 shares of the manufacturing equipment provider’s stock after acquiring an additional 1,509 shares during the period. Sage Mountain Advisors LLC’s holdings in Applied Materials were worth $831,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Applied Materials by 30.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,108 shares of the manufacturing equipment provider’s stock valued at $886,000 after purchasing an additional 1,436 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Applied Materials by 2.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 794,431 shares of the manufacturing equipment provider’s stock valued at $115,288,000 after purchasing an additional 16,839 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Applied Materials by 4,665.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 67,617 shares of the manufacturing equipment provider’s stock valued at $9,813,000 after purchasing an additional 69,098 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Applied Materials by 6.3% during the first quarter. SBI Securities Co. Ltd. now owns 13,553 shares of the manufacturing equipment provider’s stock valued at $1,967,000 after purchasing an additional 803 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in shares of Applied Materials by 3.7% during the first quarter. Apollon Wealth Management LLC now owns 27,656 shares of the manufacturing equipment provider’s stock valued at $4,013,000 after purchasing an additional 998 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMAT. Rothschild & Co Redburn downgraded Applied Materials from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a report on Monday, July 7th. Raymond James Financial reissued an “outperform” rating and issued a $200.00 target price (down from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Cantor Fitzgerald set a $220.00 target price on Applied Materials and gave the stock an “overweight” rating in a report on Tuesday, June 24th. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a report on Friday, March 28th. Finally, The Goldman Sachs Group began coverage on Applied Materials in a report on Thursday, July 10th. They issued a “buy” rating and a $225.00 target price on the stock. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $204.74.

Get Our Latest Stock Analysis on AMAT

Applied Materials Stock Up 1.1%

AMAT stock opened at $199.29 on Wednesday. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $247.52. The business has a fifty day moving average price of $173.69 and a 200-day moving average price of $165.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The stock has a market capitalization of $159.93 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.19 and a beta of 1.69.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. Applied Materials’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 earnings per share. Equities analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is presently 22.38%.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 562 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Applied Materials Profile

(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.

Further Reading

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMATFree Report).

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

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