Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by DSG Capital Advisors LLC

DSG Capital Advisors LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 77.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,421 shares of the manufacturing equipment provider's stock after selling 21,972 shares during the period. DSG Capital Advisors LLC's holdings in Applied Materials were worth $932,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Runnymede Capital Advisors Inc. grew its stake in Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Applied Materials during the 4th quarter valued at approximately $44,000. Atala Financial Inc acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $45,000. Minot DeBlois Advisors LLC bought a new stake in shares of Applied Materials in the fourth quarter worth $46,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Applied Materials in the fourth quarter worth $55,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMAT has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 16th. Barclays reduced their price target on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Applied Materials in a report on Friday, May 16th. Mizuho cut their price objective 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. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has an average rating of "Moderate Buy" and an average target price of $200.76.

Applied Materials Stock Performance

NASDAQ AMAT traded up $0.85 on Friday, hitting $190.86. The stock had a trading volume of 3,568,536 shares, compared to its average volume of 7,077,976. The company's 50-day moving average is $166.69 and its two-hundred day moving average is $163.80. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $255.89. The stock has a market cap of $153.17 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 2.12 and a beta of 1.69. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. On average, analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

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

Applied Materials announced that its Board of Directors has approved a stock buyback 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 usually an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

About Applied Materials

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.