Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 208,895 shares of the manufacturing equipment provider’s stock after selling 371 shares during the period. Applied Materials makes up approximately 2.7% of Grandfield & Dodd LLC’s portfolio, making the stock its 8th biggest holding. Grandfield & Dodd LLC’s holdings in Applied Materials were worth $43,080,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMAT. Norges Bank acquired a new position in Applied Materials during the 4th quarter worth approximately $1,514,814,000. Wellington Management Group LLP grew its holdings in Applied Materials by 3,940.1% during the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after acquiring an additional 2,121,912 shares during the period. Assenagon Asset Management S.A. raised its position in Applied Materials by 123.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,976,914 shares of the manufacturing equipment provider’s stock worth $407,699,000 after acquiring an additional 1,092,429 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Applied Materials by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock valued at $12,012,171,000 after acquiring an additional 973,218 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Applied Materials by 20.4% during the 1st quarter. Van ECK Associates Corp now owns 4,623,048 shares of the manufacturing equipment provider’s stock worth $953,411,000 after purchasing an additional 784,780 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Buying and Selling at Applied Materials

In related news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Applied Materials news, SVP Teri A. Little sold 2,500 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $221.62, for a total value of $554,050.00. Following the completion of the sale, the senior vice president now owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Insiders have sold a total of 89,827 shares of company stock valued at $21,382,560 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AMAT shares. Jefferies Financial Group cut shares of Applied Materials from a “buy” rating to a “hold” rating and reduced their price objective for the company from $215.00 to $210.00 in a research note on Monday, May 13th. Susquehanna upped their price target on Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Bank of America raised their price objective on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft began coverage on Applied Materials in a research report on Thursday, April 11th. They set a “hold” rating and a $225.00 target price on the stock. Finally, TD Cowen lifted their price target on Applied Materials from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $221.84.

Applied Materials Trading Down 5.4 %

Applied Materials stock traded down $13.71 during trading on Thursday, reaching $241.26. The company had a trading volume of 5,623,853 shares, compared to its average volume of 5,687,539. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. The stock’s 50 day moving average price is $226.74 and its two-hundred day moving average price is $200.84. The firm has a market capitalization of $199.76 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.22 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the prior year, the firm posted $2.00 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a yield of 0.66%. Applied Materials’s payout ratio is 18.39%.

About Applied Materials

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.