Blue Barn Wealth LLC Acquires 472 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Blue Barn Wealth LLC increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 32.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,926 shares of the manufacturing equipment provider’s stock after purchasing an additional 472 shares during the period. Blue Barn Wealth LLC’s holdings in Applied Materials were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMAT. Ontario Teachers Pension Plan Board increased its position in Applied Materials by 47.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 6,040 shares of the manufacturing equipment provider’s stock worth $877,000 after buying an additional 1,951 shares during the period. Deutsche Bank AG boosted its position in shares of Applied Materials by 20.7% in the first quarter. Deutsche Bank AG now owns 7,189,402 shares of the manufacturing equipment provider’s stock valued at $1,043,326,000 after acquiring an additional 1,235,097 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of Applied Materials by 20.7% in the first quarter. Chicago Partners Investment Group LLC now owns 6,873 shares of the manufacturing equipment provider’s stock worth $1,071,000 after acquiring an additional 1,178 shares during the last quarter. RiverGlades Family Offices LLC increased its position in Applied Materials by 14.8% during the first quarter. RiverGlades Family Offices LLC now owns 3,100 shares of the manufacturing equipment provider’s stock worth $450,000 after acquiring an additional 400 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Applied Materials by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,830,923 shares of the manufacturing equipment provider’s stock worth $701,064,000 after acquiring an additional 25,878 shares during the period. Institutional investors own 80.56% of the company’s stock.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction of $100,373.20. Following the sale, the chief accounting officer owned 5,300 shares of the company’s stock, valued at $946,580. This represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $178.14 on Thursday. The stock has a market capitalization of $142.96 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 1.99 and a beta of 1.70. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $215.70. The firm has a 50 day moving average of $181.10 and a 200-day moving average of $166.87.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 1.0%. Applied Materials’s dividend payout ratio is 22.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the company an “overweight” rating in a report on Tuesday, June 24th. The Goldman Sachs Group began coverage on shares of Applied Materials in a research report on Thursday, July 10th. They set a “buy” rating and a $225.00 price objective for the company. Morgan Stanley lifted their target price on Applied Materials from $158.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Stifel Nicolaus lowered their price target on Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $204.09.

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.