Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Castleark Management LLC

Castleark Management LLC trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 79.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,629 shares of the manufacturing equipment provider's stock after selling 188,310 shares during the quarter. Castleark Management LLC's holdings in Applied Materials were worth $8,071,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Taylor Hoffman Capital Management LLC grew its position in Applied Materials by 0.9% in the fourth quarter. Taylor Hoffman Capital Management LLC now owns 45,400 shares of the manufacturing equipment provider's stock worth $7,383,000 after acquiring an additional 419 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Applied Materials by 14.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 157,864 shares of the manufacturing equipment provider's stock valued at $25,673,000 after purchasing an additional 19,707 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its stake in shares of Applied Materials by 28.9% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 5,968 shares of the manufacturing equipment provider's stock valued at $971,000 after purchasing an additional 1,337 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of Applied Materials by 20.0% during the 4th quarter. Continuum Advisory LLC now owns 1,242 shares of the manufacturing equipment provider's stock worth $202,000 after purchasing an additional 207 shares during the period. Finally, PharVision Advisers LLC acquired a new stake in shares of Applied Materials during the 4th quarter worth about $250,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a report on Friday. Mizuho reduced their price target on shares of Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Susquehanna increased their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Bank of America dropped their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Citigroup upped their price target on Applied Materials from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $199.48.

Insider Transactions at Applied Materials

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam Sanders sold 271 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the sale, the chief accounting officer now directly owns 6,479 shares of the company's stock, valued at $1,119,052.88. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

Applied Materials Trading Down 0.1%

Shares of NASDAQ:AMAT opened at $165.73 on Wednesday. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89. The company's 50 day moving average is $149.84 and its two-hundred day moving average is $165.12. The company has a market cap of $134.65 billion, a PE ratio of 21.66, a P/E/G ratio of 1.81 and a beta of 1.71. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its 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. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. Applied Materials's revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio is presently 22.38%.

Applied Materials declared that its board has approved a stock repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.

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