STAR Financial Bank Cuts Position in Applied Materials, Inc. (NASDAQ:AMAT)

STAR Financial Bank lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,977 shares of the manufacturing equipment provider’s stock after selling 160 shares during the period. STAR Financial Bank’s holdings in Applied Materials were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Applied Materials in the 4th quarter valued at approximately $1,514,814,000. Wellington Management Group LLP grew its holdings in Applied Materials by 3,940.1% in the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock valued at $352,626,000 after purchasing an additional 2,121,912 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Applied Materials by 123.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,976,914 shares of the manufacturing equipment provider’s stock valued at $407,699,000 after buying an additional 1,092,429 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Applied Materials by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock worth $12,012,171,000 after buying an additional 973,218 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Applied Materials by 20.4% in the 1st quarter. Van ECK Associates Corp now owns 4,623,048 shares of the manufacturing equipment provider’s stock worth $953,411,000 after buying an additional 784,780 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Trading Up 1.4 %

Applied Materials stock traded up $3.50 during midday trading on Wednesday, reaching $254.97. The stock had a trading volume of 4,257,223 shares, compared to its average volume of 5,688,037. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89. The stock has a market capitalization of $211.11 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 3.22 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. The stock’s 50-day simple moving average is $225.88 and its 200 day simple moving average is $200.56.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its earnings results 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 firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter last year, the firm earned $2.00 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts expect that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

Analyst Ratings Changes

AMAT has been the subject of several recent research reports. TD Cowen raised their target price on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. B. Riley lifted their price objective on Applied Materials from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus reiterated a “buy” rating and set a $230.00 target price on shares of Applied Materials in a report on Wednesday, May 15th. Wells Fargo & Company raised their price target on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. raised their price target on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.84.

Get Our Latest Research Report on Applied Materials

Insiders Place Their Bets

In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the transaction, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Insiders have sold a total of 89,827 shares of company stock worth $21,382,560 over the last quarter. 0.29% of the stock is owned by corporate insiders.

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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