Droms Strauss Advisors Inc. MO ADV acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 23,341 shares of the manufacturing equipment provider’s stock, valued at approximately $926,000. Applied Materials comprises 0.7% of Droms Strauss Advisors Inc. MO ADV’s holdings, making the stock its 24th biggest position.
A number of other hedge funds and other institutional investors have also made changes to their positions in AMAT. Benjamin F. Edwards & Company Inc. boosted its position in Applied Materials by 168.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,268 shares of the manufacturing equipment provider’s stock worth $42,000 after acquiring an additional 795 shares during the period. ETF Managers Group LLC boosted its position in Applied Materials by 20.2% during the 4th quarter. ETF Managers Group LLC now owns 2,408 shares of the manufacturing equipment provider’s stock worth $79,000 after acquiring an additional 405 shares during the period. Buckingham Capital Management Inc. boosted its position in Applied Materials by 0.4% during the 4th quarter. Buckingham Capital Management Inc. now owns 88,027 shares of the manufacturing equipment provider’s stock worth $2,882,000 after acquiring an additional 309 shares during the period. Daiwa Securities Group Inc. boosted its position in Applied Materials by 13.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 47,467 shares of the manufacturing equipment provider’s stock worth $1,554,000 after acquiring an additional 5,600 shares during the period. Finally, Brasada Capital Management LP boosted its position in Applied Materials by 400.0% during the 4th quarter. Brasada Capital Management LP now owns 5,000 shares of the manufacturing equipment provider’s stock worth $164,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 77.59% of the company’s stock.
Shares of AMAT stock opened at $41.50 on Thursday. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $51.59. The company has a market capitalization of $40.95 billion, a P/E ratio of 9.33, a P/E/G ratio of 1.63 and a beta of 1.67.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the business earned $1.22 EPS. The firm’s revenue was down 22.7% compared to the same quarter last year. On average, research analysts forecast that Applied Materials, Inc. will post 2.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s payout ratio is 18.88%.
In related news, insider Omkaram Nalamasu sold 143,255 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $40.73, for a total value of $5,834,776.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The disclosure for this sale can be found here. Insiders sold a total of 170,255 shares of company stock worth $6,987,176 over the last three months. 0.44% of the stock is owned by company insiders.
AMAT has been the subject of a number of research reports. UBS Group raised their price objective on Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Citigroup lifted their price target on Applied Materials from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. DZ Bank lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Cowen lifted their price target on Applied Materials from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Finally, Susquehanna Bancshares upgraded Applied Materials from a “neutral” rating to a “positive” rating and lifted their price target for the company from $34.00 to $60.00 in a report on Wednesday, May 15th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and a consensus target price of $51.43.
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About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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