University of Texas Texas AM Investment Management Co. Increases Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

University of Texas Texas AM Investment Management Co. increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 79.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 25,600 shares of the manufacturing equipment provider’s stock after acquiring an additional 11,304 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Applied Materials were worth $3,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Belpointe Asset Management LLC lifted its holdings 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 lifted 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 in the last quarter. Silver Oak Securities Incorporated boosted its holdings in Applied Materials by 4.7% in the first quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider’s stock valued at $218,000 after purchasing an additional 68 shares during the last quarter. Cromwell Holdings LLC grew its stake in Applied Materials by 2.8% during the 1st quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider’s stock valued at $369,000 after purchasing an additional 69 shares in the last quarter. Finally, Hardy Reed LLC increased its holdings 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 worth $1,063,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT opened at $185.69 on Monday. The stock’s 50 day simple moving average is $177.59 and its 200-day simple moving average is $166.44. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The stock 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 1 year low of $123.74 and a 1 year high of $215.70.

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

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders 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 0.99%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s payout ratio is 22.38%.

Insider Buying and Selling 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 transaction, the chief accounting officer owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

AMAT has been the subject of several research analyst reports. B. Riley reduced their target price on Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Stifel Nicolaus reduced their price objective on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Raymond James Financial reissued an “outperform” rating and issued a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Barclays cut their target price on shares of Applied Materials from $190.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup lifted their price target on Applied Materials from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.74.

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.