Mizuho Markets Cayman LP reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 75.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,266 shares of the manufacturing equipment provider’s stock after selling 43,807 shares during the period. Mizuho Markets Cayman LP’s holdings in Applied Materials were worth $3,666,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in AMAT. Brighton Jones LLC increased its holdings in Applied Materials by 28.0% during the 4th quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider’s stock valued at $2,061,000 after acquiring an additional 2,771 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Applied Materials by 26.7% during the second quarter. Sivia Capital Partners LLC now owns 3,225 shares of the manufacturing equipment provider’s stock worth $590,000 after buying an additional 679 shares in the last quarter. Forefront Wealth Partners LLC purchased a new stake in shares of Applied Materials during the second quarter worth about $410,000. Schnieders Capital Management LLC. grew its holdings in shares of Applied Materials by 30.1% during the second quarter. Schnieders Capital Management LLC. now owns 15,003 shares of the manufacturing equipment provider’s stock worth $2,747,000 after buying an additional 3,469 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Applied Materials by 59.3% during the second quarter. Sei Investments Co. now owns 422,694 shares of the manufacturing equipment provider’s stock worth $77,383,000 after buying an additional 157,426 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Applied Materials Stock Up 1.1%
Shares of NASDAQ AMAT opened at $432.16 on Friday. Applied Materials, Inc. has a 52-week low of $153.47 and a 52-week high of $448.45. The firm has a fifty day moving average of $387.09 and a 200-day moving average of $326.06. The stock has a market capitalization of $342.97 billion, a PE ratio of 40.58, a P/E/G ratio of 1.20 and a beta of 1.66. The company has a quick ratio of 1.80, a current ratio of 2.51 and a debt-to-equity ratio of 0.22.
Applied Materials Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $2.12 annualized dividend and a dividend yield of 0.5%. This is a boost from Applied Materials’s previous quarterly dividend of $0.46. Applied Materials’s dividend payout ratio is presently 19.91%.
Insider Buying and Selling at Applied Materials
In other news, CAO Adam Sanders sold 534 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $379.16, for a total transaction of $202,471.44. Following the completion of the sale, the chief accounting officer directly owned 4,625 shares of the company’s stock, valued at $1,753,615. The trade was a 10.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Judy Bruner sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $391.71, for a total transaction of $979,275.00. Following the sale, the director directly owned 26,089 shares of the company’s stock, valued at $10,219,322.19. This represents a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,003 shares of company stock valued at $2,678,139 over the last three months. Corporate insiders own 0.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Erste Group Bank upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Monday, April 27th. Seaport Research Partners began coverage on shares of Applied Materials in a report on Monday, May 4th. They set a “buy” rating and a $500.00 price target for the company. Barclays raised their price objective on Applied Materials from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. The Goldman Sachs Group raised their price objective on Applied Materials from $390.00 to $520.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada raised their price objective on Applied Materials from $500.00 to $520.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Twenty-seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $465.14.
Read Our Latest Stock Report on AMAT
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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