STF Management LP Sells 614 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

STF Management LP decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,240 shares of the manufacturing equipment provider’s stock after selling 614 shares during the period. Applied Materials accounts for 1.3% of STF Management LP’s portfolio, making the stock its 18th largest position. STF Management LP’s holdings in Applied Materials were worth $3,125,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Precision Wealth Strategies LLC raised its holdings in Applied Materials by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock worth $502,000 after buying an additional 242 shares during the last quarter. Gilbert & Cook Inc. lifted its position in Applied Materials by 11.1% in the 4th quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock valued at $678,000 after acquiring an additional 418 shares in the last quarter. Gryphon Financial Partners LLC grew its stake in shares of Applied Materials by 5.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock valued at $249,000 after purchasing an additional 84 shares during the period. Foundations Investment Advisors LLC bought a new position in shares of Applied Materials in the 4th quarter worth approximately $276,000. Finally, Financial Advocates Investment Management grew its position in Applied Materials by 63.6% during the fourth quarter. Financial Advocates Investment Management now owns 4,141 shares of the manufacturing equipment provider’s stock valued at $671,000 after buying an additional 1,610 shares during the period. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Up 2.9 %

NASDAQ:AMAT opened at $188.47 on Monday. The stock has a fifty day simple moving average of $204.08 and a 200-day simple moving average of $210.80. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The company has a market cap of $155.37 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is 18.39%.

Insider Activity at Applied Materials

In other Applied Materials news, 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 transaction of $12,458,500.00. Following the transaction, the insider now owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was 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 approximately $114,223,763.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials 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 approximately $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Barclays raised Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $165.00 to $225.00 in a report on Wednesday, June 5th. Morgan Stanley lifted their target price on shares of Applied Materials from $223.00 to $224.00 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Citigroup decreased their target price on Applied Materials from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Stifel Nicolaus dropped their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $234.95.

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.