Foster Group Inc. Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Foster Group Inc. raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,371 shares of the manufacturing equipment provider’s stock after buying an additional 87 shares during the period. Foster Group Inc.’s holdings in Applied Materials were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials during the first quarter worth $26,000. Summit Securities Group LLC purchased a new position in Applied Materials in the 2nd quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Applied Materials in the 4th quarter worth about $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in Applied Materials during the 1st quarter valued at about $35,000. Finally, RFP Financial Group LLC boosted its position in Applied Materials by 96.6% in the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after buying an additional 85 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

AMAT traded up $4.28 on Friday, reaching $197.26. 7,313,848 shares of the stock were exchanged, compared to its average volume of 6,009,392. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The company’s 50-day moving average price is $214.90 and its 200 day moving average price is $211.36. The firm has a market capitalization of $163.33 billion, a PE ratio of 22.67, a PEG ratio of 2.45 and a beta of 1.56. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued 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 0.81%. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

Insider Activity at Applied Materials

In other news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 458,417 shares in the company, valued at $114,223,763.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the company’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 transaction, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total value of $12,458,500.00. Following the sale, the insider now owns 458,417 shares in the company, valued at $114,223,763.89. The disclosure for this sale can be found here. Insiders sold 62,327 shares of company stock worth $15,338,110 over the last three months. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

AMAT has been the subject of several research analyst reports. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Mizuho lifted their price objective on Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 17th. Jefferies Financial Group downgraded shares of Applied Materials from a “buy” rating to a “hold” rating and cut their target price for the company from $215.00 to $210.00 in a research report on Monday, May 13th. Raymond James upped their price target on shares of Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Finally, TD Cowen boosted their price objective on shares of Applied Materials from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $233.14.

Applied Materials 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.