TCW Group Inc. Purchases 12,810 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

TCW Group Inc. raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 42.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,887 shares of the manufacturing equipment provider’s stock after purchasing an additional 12,810 shares during the quarter. TCW Group Inc.’s holdings in Applied Materials were worth $6,224,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC increased its stake in Applied Materials by 1.7% in the 4th quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider’s stock worth $607,000 after buying an additional 62 shares in the last quarter. Old Port Advisors boosted its stake in shares of Applied Materials by 2.5% in the first quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider’s stock worth $396,000 after acquiring an additional 66 shares during the period. Silver Oak Securities Incorporated grew its position in shares of Applied Materials by 4.7% during the first quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider’s stock worth $218,000 after purchasing an additional 68 shares in the last quarter. Cromwell Holdings LLC grew its position in shares of Applied Materials by 2.8% during the first quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider’s stock worth $369,000 after purchasing an additional 69 shares in the last quarter. Finally, Hardy Reed LLC raised its stake in Applied Materials by 1.0% during the 1st quarter. Hardy Reed LLC now owns 7,324 shares of the manufacturing equipment provider’s stock valued at $1,063,000 after purchasing an additional 71 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their price target on Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group initiated coverage on shares of Applied Materials in a research report on Thursday, July 10th. They set a “buy” rating and a $225.00 target price for the company. Cantor Fitzgerald set a $220.00 target price on shares of Applied Materials and gave the company an “overweight” rating in a research note on Tuesday, June 24th. Rothschild & Co Redburn cut shares of Applied Materials from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Monday, July 7th. Finally, Barclays cut their price objective on Applied Materials from $190.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.74.

Applied Materials Stock Down 1.3%

Shares of AMAT opened at $185.69 on Monday. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $177.59 and a 200 day moving average of $166.44. The company has a market cap of $149.02 billion, a PE ratio of 22.59, a P/E/G ratio of 2.07 and a beta of 1.69. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $215.70.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $2.09 EPS. On average, sell-side analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently announced 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 0.99%. Applied Materials’s dividend payout ratio is 22.38%.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the firm’s stock in a transaction that occurred 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 directly owned 5,300 shares of the company’s stock, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.