Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,571 shares of the manufacturing equipment provider's stock after buying an additional 2,711 shares during the quarter. GAMMA Investing LLC's holdings in Applied Materials were worth $1,824,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new position in Applied Materials during the fourth quarter valued at approximately $44,000. Atala Financial Inc acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $45,000. Minot DeBlois Advisors LLC purchased a new position in shares of Applied Materials during the 4th quarter valued at approximately $46,000. Noble Wealth Management PBC acquired a new position in shares of Applied Materials in the 4th quarter valued at $48,000. Finally, Whipplewood Advisors LLC purchased a new stake in Applied Materials during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Insider Activity

In other news, CEO Gary E. Dickerson purchased 50,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the acquisition, the chief executive officer directly owned 1,716,058 shares of the company's stock, valued at approximately $235,614,763.40. This represents a 3.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam Sanders sold 562 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the transaction, the chief accounting officer owned 5,300 shares in the company, valued at $946,580. This represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Applied Materials Price Performance

Shares of Applied Materials stock traded down $0.14 on Monday, hitting $183.07. 4,065,490 shares of the company were exchanged, compared to its average volume of 7,044,278. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $163.08 and a 200 day moving average price of $163.23. The stock has a market capitalization of $146.91 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.67. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89.

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

Applied Materials announced that its board has approved a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Applied Materials Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio is currently 22.38%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMAT. Jefferies Financial Group raised shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price objective for the company in a report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wall Street Zen cut Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Raymond James Financial reissued an "outperform" rating and issued a $200.00 price objective (down from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Finally, Barclays cut their price objective on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.24.

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.