Hollencrest Capital Management Sells 714 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Hollencrest Capital Management lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,403 shares of the manufacturing equipment provider’s stock after selling 714 shares during the period. Hollencrest Capital Management’s holdings in Applied Materials were worth $9,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AMAT. Patton Albertson Miller Group LLC boosted its stake in shares of Applied Materials by 3.5% during the first quarter. Patton Albertson Miller Group LLC now owns 34,686 shares of the manufacturing equipment provider’s stock valued at $5,034,000 after purchasing an additional 1,177 shares during the period. General American Investors Co. Inc. increased its holdings in Applied Materials by 16.2% in the 1st quarter. General American Investors Co. Inc. now owns 71,652 shares of the manufacturing equipment provider’s stock worth $10,398,000 after buying an additional 10,000 shares during the period. Hardy Reed LLC increased its holdings in Applied Materials by 1.0% in the 1st quarter. Hardy Reed LLC now owns 7,324 shares of the manufacturing equipment provider’s stock worth $1,063,000 after buying an additional 71 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in shares of Applied Materials by 19.5% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 27,701 shares of the manufacturing equipment provider’s stock worth $4,020,000 after purchasing an additional 4,519 shares during the period. Finally, Bailard Inc. grew its stake in shares of Applied Materials by 4.1% during the 1st quarter. Bailard Inc. now owns 27,453 shares of the manufacturing equipment provider’s stock worth $3,984,000 after purchasing an additional 1,086 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 0.5%

Shares of AMAT opened at $193.41 on Friday. The company has a 50-day moving average of $175.19 and a 200 day moving average of $165.79. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $224.09. The firm has a market capitalization of $155.21 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.17 and a beta of 1.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data 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. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the business posted $2.09 EPS. Applied Materials’s revenue was up 6.8% on a year-over-year basis. On average, research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The company 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 0.95%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is presently 22.38%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their price target on Applied Materials from $158.00 to $169.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. The Goldman Sachs Group initiated coverage on Applied Materials in a research report on Thursday, July 10th. They set a “buy” rating and a $225.00 price objective for the company. B. Riley lowered their price objective on Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Redburn Atlantic downgraded Applied Materials from a “strong-buy” rating to a “hold” rating and lowered their price objective for the stock from $225.00 to $200.00 in a research report on Monday, July 7th. Finally, Wall Street Zen downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.74.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the 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 sale, the chief accounting officer directly owned 5,300 shares of the company’s stock, valued at approximately $946,580. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

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.