West Coast Financial LLC Sells 125 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

West Coast Financial LLC trimmed its stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,334 shares of the manufacturing equipment provider’s stock after selling 125 shares during the period. West Coast Financial LLC’s holdings in Applied Materials were worth $1,306,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMAT. Atlantic Edge Private Wealth Management LLC acquired a new position in Applied Materials during the 4th quarter valued at about $27,000. DSM Capital Partners LLC acquired a new position in Applied Materials during the 4th quarter valued at about $37,000. Accent Capital Management LLC acquired a new position in Applied Materials during the 4th quarter valued at about $41,000. Richardson Financial Services Inc. acquired a new position in Applied Materials during the 4th quarter valued at about $43,000. Finally, First United Bank & Trust acquired a new position in Applied Materials during the 4th quarter valued at about $45,000. 80.56% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Teri A. Little sold 2,500 shares of Applied Materials stock in a transaction on Friday, June 7th. The stock was sold at an average price of $221.62, for a total value of $554,050.00. Following the completion of the sale, the senior vice president now directly owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Teri A. Little sold 2,500 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $221.62, for a total transaction of $554,050.00. Following the completion of the transaction, the senior vice president now directly owns 76,212 shares of the company’s stock, valued at approximately $16,890,103.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the transaction, the insider now directly owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,827 shares of company stock valued at $21,382,560. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMAT has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $260.00 target price on shares of Applied Materials in a research report on Friday, May 17th. B. Riley boosted their price target on Applied Materials from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus reiterated a “buy” rating and set a $230.00 price target on shares of Applied Materials in a research note on Wednesday, May 15th. UBS Group boosted their price target on Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Finally, Mizuho boosted their price target on Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $221.84.

View Our Latest Report on Applied Materials

Applied Materials Trading Up 1.8 %

NASDAQ:AMAT traded up $4.14 on Tuesday, reaching $233.98. The company’s stock had a trading volume of 1,879,911 shares, compared to its average volume of 5,778,459. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $249.42. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The firm has a market cap of $193.73 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 3.08 and a beta of 1.56. The stock has a 50 day moving average price of $215.39 and a 200 day moving average price of $193.86.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same period in the previous year, the firm posted $2.00 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. Applied Materials’s payout ratio is presently 18.39%.

About Applied Materials

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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