Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,885 shares of the manufacturing equipment provider’s stock after selling 327 shares during the period. Applied Materials makes up approximately 1.3% of Wakefield Asset Management LLLP’s holdings, making the stock its 19th biggest position. Wakefield Asset Management LLLP’s holdings in Applied Materials were worth $3,749,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC boosted its position in shares of Applied Materials by 5.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after purchasing an additional 126 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of Applied Materials by 0.9% in the second quarter. Lake Street Advisors Group LLC now owns 12,103 shares of the manufacturing equipment provider’s stock worth $2,856,000 after buying an additional 111 shares during the period. Savant Capital LLC increased its position in shares of Applied Materials by 58.0% in the second quarter. Savant Capital LLC now owns 26,325 shares of the manufacturing equipment provider’s stock worth $6,212,000 after acquiring an additional 9,667 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Applied Materials by 8.1% during the second quarter. Candriam S.C.A. now owns 676,556 shares of the manufacturing equipment provider’s stock valued at $159,653,000 after acquiring an additional 50,571 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Applied Materials by 2.2% in the 2nd quarter. Private Advisor Group LLC now owns 35,066 shares of the manufacturing equipment provider’s stock valued at $8,275,000 after acquiring an additional 748 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. Susquehanna upped their price target on Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Mizuho raised their price objective on Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Citigroup dropped their target price on Applied Materials from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Stifel Nicolaus reduced their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.14.

Applied Materials Price Performance

NASDAQ AMAT opened at $174.75 on Friday. The firm has a market cap of $144.69 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 2.35 and a beta of 1.56. The stock’s 50-day moving average is $209.96 and its two-hundred day moving average is $211.12. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $1.90 EPS. On average, analysts anticipate that Applied Materials, Inc. will post 8.47 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio is currently 18.39%.

Insider Activity at Applied Materials

In other Applied Materials news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the completion of the sale, the insider now directly owns 458,417 shares in the company, valued at $114,223,763.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.