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Entropy Technologies LP Invests $7.40 Million in Applied Materials, Inc. (NASDAQ:AMAT)

Applied Materials logo with Computer and Technology background

Key Points

  • Entropy Technologies LP has made a new investment of approximately $7.4 million in Applied Materials, Inc., acquiring 51,018 shares, which represents about 0.7% of its portfolio.
  • Significant interest from institutional investors is noted, with 80.56% of Applied Materials' stock owned by hedge funds and other institutions, indicating strong market confidence.
  • Analysts maintain a positive outlook on the company, with an average target price of $204.09 and multiple buy ratings from research firms highlighting its expected growth.
  • Want stock alerts on Applied Materials? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Entropy Technologies LP purchased a new position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 51,018 shares of the manufacturing equipment provider's stock, valued at approximately $7,404,000. Applied Materials comprises about 0.7% of Entropy Technologies LP's portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMAT. Belpointe Asset Management LLC grew its holdings in shares of Applied Materials by 1.7% during the 4th quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock worth $607,000 after purchasing an additional 62 shares in the last quarter. Old Port Advisors boosted its holdings in shares of Applied Materials by 2.5% in the 1st quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider's stock worth $396,000 after acquiring an additional 66 shares in the last quarter. Silver Oak Securities Incorporated raised its position in Applied Materials by 4.7% in the 1st quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock worth $218,000 after purchasing an additional 68 shares during the last quarter. Cromwell Holdings LLC raised its position in Applied Materials by 2.8% in the 1st quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock worth $369,000 after purchasing an additional 69 shares during the last quarter. Finally, TCTC Holdings LLC increased its holdings in Applied Materials by 7.2% in the first quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider's stock valued at $152,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Insider Buying and Selling

In other news, CAO Adam Sanders sold 562 shares of Applied Materials 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 sale, the chief accounting officer owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America decreased their price objective on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley upped their price objective 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. TD Cowen reduced their price target on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Citigroup upped their target price on Applied Materials from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group assumed coverage on Applied Materials in a research report on Thursday, July 10th. They set a "buy" rating and a $225.00 target price for the company. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $204.09.

Read Our Latest Stock Analysis on Applied Materials

Applied Materials Stock Down 0.3%

Applied Materials stock traded down $0.49 during mid-day trading on Monday, reaching $184.38. 7,813,506 shares of the company were exchanged, compared to its average volume of 7,234,765. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $215.70. The business has a fifty day moving average of $182.16 and a 200 day moving average of $166.39. 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 firm has a market cap of $147.96 billion, a P/E ratio of 22.43, a PEG ratio of 2.06 and a beta of 1.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results 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. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period last year, the firm posted $2.09 EPS. Applied Materials's revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is currently 22.38%.

Applied Materials Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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