Applied Materials, Inc. (NASDAQ:AMAT) Stake Raised by Trillium Asset Management LLC

Trillium Asset Management LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 111.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,430 shares of the manufacturing equipment provider’s stock after purchasing an additional 45,110 shares during the period. Trillium Asset Management LLC’s holdings in Applied Materials were worth $12,398,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Northern Trust Corp increased its position in Applied Materials by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider’s stock worth $1,663,780,000 after purchasing an additional 1,602,645 shares during the last quarter. Nuveen LLC acquired a new position in Applied Materials in the 1st quarter worth about $1,085,600,000. Deutsche Bank AG increased its position in Applied Materials by 20.7% in the 1st quarter. Deutsche Bank AG now owns 7,189,402 shares of the manufacturing equipment provider’s stock worth $1,043,326,000 after purchasing an additional 1,235,097 shares during the last quarter. Davis Selected Advisers increased its position in Applied Materials by 6.0% in the 1st quarter. Davis Selected Advisers now owns 4,993,172 shares of the manufacturing equipment provider’s stock worth $724,609,000 after purchasing an additional 280,955 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Applied Materials by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,830,923 shares of the manufacturing equipment provider’s stock worth $701,064,000 after purchasing an additional 25,878 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 562 shares of the firm’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 directly owned 5,300 shares of the company’s stock, valued at $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 target price (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. The Goldman Sachs Group began coverage on Applied Materials in a report on Thursday, July 10th. They set a “buy” rating and a $225.00 price objective on the stock. Cantor Fitzgerald set a $220.00 price objective on Applied Materials and gave the company an “overweight” rating in a report on Tuesday, June 24th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Applied Materials in a report on Friday, May 16th. Finally, Barclays increased their price objective on Applied Materials from $160.00 to $170.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $204.09.

Applied Materials Price Performance

Applied Materials stock opened at $184.38 on Tuesday. 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 company has a market capitalization of $147.96 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.06 and a beta of 1.70. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70. The business has a 50 day simple moving average of $182.71 and a 200 day simple moving average of $166.37.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The business 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%. Applied Materials’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $2.09 EPS. On average, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is currently 22.38%.

Applied Materials 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.