Waterway Wealth Management LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 38.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,655 shares of the manufacturing equipment provider’s stock after selling 1,653 shares during the period. Waterway Wealth Management LLC’s holdings in Applied Materials were worth $907,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in Applied Materials by 4.9% in the third quarter. First Trust Advisors LP now owns 3,101,772 shares of the manufacturing equipment provider’s stock valued at $635,057,000 after purchasing an additional 145,050 shares during the period. Evolve Private Wealth LLC boosted its position in shares of Applied Materials by 59.0% in the first quarter. Evolve Private Wealth LLC now owns 2,875 shares of the manufacturing equipment provider’s stock worth $983,000 after buying an additional 1,067 shares during the period. Elo Mutual Pension Insurance Co boosted its position in shares of Applied Materials by 21.8% in the third quarter. Elo Mutual Pension Insurance Co now owns 96,712 shares of the manufacturing equipment provider’s stock worth $19,801,000 after buying an additional 17,288 shares during the period. Worth Asset Management LLC acquired a new stake in shares of Applied Materials in the fourth quarter valued at about $1,531,000. Finally, World Investment Advisors grew its stake in shares of Applied Materials by 4.5% in the fourth quarter. World Investment Advisors now owns 82,296 shares of the manufacturing equipment provider’s stock valued at $21,149,000 after buying an additional 3,508 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.
Applied Materials Trading Up 13.4%
Shares of AMAT opened at $668.00 on Friday. Applied Materials, Inc. has a one year low of $154.46 and a one year high of $669.22. The stock has a 50-day moving average price of $468.89 and a 200 day moving average price of $375.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.80 and a current ratio of 2.51. The company has a market capitalization of $530.37 billion, a P/E ratio of 62.72, a P/E/G ratio of 1.64 and a beta of 1.67.
Applied Materials Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, August 20th. Applied Materials’s payout ratio is 19.91%.
Wall Street Analysts Forecast Growth
AMAT has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Applied Materials in a research report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $502.00 price objective (up from $454.00) on shares of Applied Materials in a research report on Friday, May 15th. Wells Fargo & Company lifted their price objective on shares of Applied Materials from $520.00 to $715.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho boosted their target price on shares of Applied Materials from $500.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Twenty-seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $509.65.
Get Our Latest Report on Applied Materials
Insiders Place Their Bets
In other Applied Materials news, SVP Omkaram Nalamasu sold 24,263 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $593.43, for a total transaction of $14,398,392.09. Following the completion of the transaction, the senior vice president directly owned 146,916 shares of the company’s stock, valued at $87,184,361.88. This trade represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Iannotti sold 9,250 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $599.77, for a total transaction of $5,547,872.50. Following the completion of the sale, the director directly owned 40,559 shares of the company’s stock, valued at $24,326,071.43. The trade was a 18.57% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 199,767 shares of company stock valued at $114,104,709. 0.30% of the stock is owned by insiders.
Applied Materials News Roundup
Here are the key news stories impacting Applied Materials this week:
- Positive Sentiment: Applied Materials unveiled new systems for DRAM and advanced packaging, including tools for higher-yield chip stacking and wafer metrology, strengthening its position in AI chip manufacturing. Applied Materials Introduces New Systems to Accelerate DRAM and Advanced Packaging for AI Chips
- Positive Sentiment: Analyst commentary has turned more upbeat, with Wells Fargo raising its price target sharply and other coverage pointing to continued strength in semiconductor equipment demand and AI infrastructure spending. Is Applied Materials (AMAT) the Best All-Time High Stock with Legs to Rally Further?
- Positive Sentiment: Broader AI-chip optimism also helped sentiment across the sector, with Micron-led strength reinforcing the idea that memory and chip-equipment names could benefit from the next leg of AI spending. Micron Sparks Fresh AI Stock Rally
- Neutral Sentiment: Short interest data showed no meaningful bearish positioning change, so this does not appear to be a driver of the stock move. Applied Materials stock information
Applied Materials Company Profile
Applied Materials, Inc is a U.S.-based supplier of equipment, services and software used to manufacture semiconductor chips, flat panel displays and other advanced materials. Headquartered in Santa Clara, California, the company designs and sells capital equipment and related technologies that enable production of integrated circuits, display panels and materials used across the electronics supply chain.
Applied Materials’ offerings include process equipment and factory software that support critical steps in device fabrication, such as deposition, etch, implantation, inspection and metrology, as well as systems for packaging and advanced heterogeneous integration.
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