Clearbridge Investments LLC Sells 190,083 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Clearbridge Investments LLC decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 96.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,822 shares of the manufacturing equipment provider’s stock after selling 190,083 shares during the quarter. Clearbridge Investments LLC’s holdings in Applied Materials were worth $1,613,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials in the 1st quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Applied Materials in the fourth quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in Applied Materials in the 1st quarter valued at $35,000. RFP Financial Group LLC lifted its position in shares of Applied Materials by 96.6% during the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after acquiring an additional 85 shares during the period. Finally, DSM Capital Partners LLC acquired a new stake in shares of Applied Materials during the 4th quarter worth $37,000. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMAT. JPMorgan Chase & Co. raised their price objective on Applied Materials from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Jefferies Financial Group downgraded Applied Materials from a “buy” rating to a “hold” rating and lowered their price objective for the company from $215.00 to $210.00 in a research note on Monday, May 13th. Barclays raised Applied Materials from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $165.00 to $225.00 in a research note on Wednesday, June 5th. Bank of America upped their price target on Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

Insider Activity

In related news, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the completion of the sale, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the transaction, the senior vice president now owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the sale, the director now directly owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,827 shares of company stock worth $21,382,560. 0.29% of the stock is currently owned by insiders.

Applied Materials Price Performance

NASDAQ AMAT traded down $2.47 during trading hours on Thursday, hitting $204.06. 864,216 shares of the company’s stock traded hands, compared to its average volume of 5,704,270. The company has a market capitalization of $168.96 billion, a PE ratio of 23.74, a PEG ratio of 2.74 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The firm’s 50-day moving average is $229.84 and its 200-day moving average is $205.39.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate 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 during 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 business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.78%. Applied Materials’s dividend payout ratio is currently 18.39%.

Applied Materials Company Profile

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.