SFE Investment Counsel Has $2.48 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

SFE Investment Counsel increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,085 shares of the manufacturing equipment provider's stock after purchasing an additional 2,108 shares during the period. SFE Investment Counsel's holdings in Applied Materials were worth $2,479,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Carnegie Investment Counsel grew its holdings in shares of Applied Materials by 18.5% during the first quarter. Carnegie Investment Counsel now owns 150,727 shares of the manufacturing equipment provider's stock worth $20,045,000 after buying an additional 23,496 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Applied Materials by 18.5% during the 1st quarter. AE Wealth Management LLC now owns 145,052 shares of the manufacturing equipment provider's stock valued at $21,050,000 after acquiring an additional 22,684 shares during the period. Blume Capital Management Inc. boosted its position in Applied Materials by 9.3% during the first quarter. Blume Capital Management Inc. now owns 43,694 shares of the manufacturing equipment provider's stock worth $6,341,000 after purchasing an additional 3,705 shares in the last quarter. J. W. Coons Advisors LLC grew its stake in Applied Materials by 20.6% in the 1st quarter. J. W. Coons Advisors LLC now owns 6,343 shares of the manufacturing equipment provider's stock valued at $921,000 after acquiring an additional 1,084 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in Applied Materials in the 1st quarter valued at approximately $866,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Adam Sanders sold 562 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction of $100,373.20. Following the sale, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at $946,580. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMAT shares. Needham & Company LLC restated a "buy" rating and issued a $195.00 target price on shares of Applied Materials in a research note on Friday, May 16th. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target on the stock in a research report on Friday, March 28th. Morgan Stanley boosted their price target on shares of Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Citigroup raised their target price on shares of Applied Materials from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Barclays dropped their price target on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $204.74.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded down $2.43 during trading on Friday, reaching $185.69. 6,580,937 shares of the company's stock traded hands, compared to its average volume of 6,161,150. The stock has a market capitalization of $149.02 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.09 and a beta of 1.69. The company has a 50 day moving average of $177.19 and a 200-day moving average of $166.54. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $215.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. On average, equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a dividend yield of 0.99%. Applied Materials's dividend payout ratio (DPR) is currently 22.38%.

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.