275 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 275 shares of the manufacturing equipment provider’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials in the first quarter valued at approximately $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. DSM Capital Partners LLC bought a new stake in shares of Applied Materials in the fourth quarter valued at approximately $37,000. Accent Capital Management LLC bought a new stake in Applied Materials during the 4th quarter worth approximately $41,000. Finally, Richardson Financial Services Inc. bought a new stake in Applied Materials during the 4th quarter worth approximately $43,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. JPMorgan Chase & Co. upped their target price on shares of Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $165.00 to $225.00 in a report on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $260.00 target price on shares of Applied Materials in a report on Friday, May 17th. Finally, Jefferies Financial Group lowered shares of Applied Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $215.00 to $210.00 in a report on Monday, May 13th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.84.

Get Our Latest Stock Report on Applied Materials

Applied Materials Stock Up 1.4 %

Shares of NASDAQ AMAT opened at $254.97 on Thursday. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The firm has a market capitalization of $211.11 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 3.22 and a beta of 1.56. The firm has a fifty day simple moving average of $225.88 and a two-hundred day simple moving average of $200.56.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its quarterly earnings data 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 net margin of 27.57% and a return on equity of 41.22%. The company had revenue of $6.65 billion for 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. Applied Materials’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s payout ratio is presently 18.39%.

Insider Activity

In related news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $2,325,559.55. Following the sale, the director now owns 49,185 shares in the company, valued at approximately $11,639,630.25. 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 in the last 90 days. 0.29% of the stock is currently owned by insiders.

Applied Materials Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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