Clear Creek Financial Management LLC Lowers Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Clear Creek Financial Management LLC decreased its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 24.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,231 shares of the manufacturing equipment provider's stock after selling 1,388 shares during the period. Clear Creek Financial Management LLC's holdings in Applied Materials were worth $614,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. LaFleur & Godfrey LLC increased its holdings in Applied Materials by 17.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 17,246 shares of the manufacturing equipment provider's stock worth $2,805,000 after acquiring an additional 2,536 shares in the last quarter. Eagle Capital Management LLC grew its position in shares of Applied Materials by 1.8% in the fourth quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider's stock valued at $2,603,000 after purchasing an additional 290 shares during the period. Brighton Jones LLC increased its stake in shares of Applied Materials by 28.0% during the fourth quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider's stock worth $2,061,000 after purchasing an additional 2,771 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Applied Materials by 59.6% during the fourth quarter. Jones Financial Companies Lllp now owns 21,267 shares of the manufacturing equipment provider's stock worth $3,459,000 after purchasing an additional 7,938 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Applied Materials by 15.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 84,911 shares of the manufacturing equipment provider's stock worth $13,809,000 after purchasing an additional 11,378 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Trading Up 0.4%

Shares of NASDAQ AMAT traded up $0.85 during midday trading on Friday, reaching $190.86. 3,568,536 shares of the stock were exchanged, compared to its average volume of 7,077,976. The stock has a market capitalization of $153.17 billion, a P/E ratio of 23.22, a PEG ratio of 2.13 and a beta of 1.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The company has a 50 day simple moving average of $167.47 and a 200 day simple moving average of $163.94. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89.

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

Applied Materials announced that its board has initiated a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's payout ratio is 22.38%.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the transaction, the chief accounting officer 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 filing with the SEC, which is available through this link. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

AMAT has been the topic of several research analyst reports. Barclays lowered their price objective 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. Mizuho lowered their price target on Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. TD Cowen dropped their price target on Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Morgan Stanley increased their price objective on Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Citigroup lifted their target price on shares of Applied Materials from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $200.76.

Applied Materials 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.