Headlands Technologies LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Headlands Technologies LLC increased its stake in Applied Materials by 237.7% in Q1, now owning 47,135 shares valued at approximately $6.84 million.
• Applied Materials reported a net margin of 24.06% and $7.10 billion in revenue for its latest quarter, marking a 6.8% year-over-year increase despite slightly missing revenue expectations.
• The company declared a quarterly dividend of $0.46 per share, with a yield of 1.0%, set to be paid on September 11th to shareholders of record on August 21st.

Headlands Technologies LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 237.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,135 shares of the manufacturing equipment provider's stock after purchasing an additional 33,176 shares during the period. Applied Materials comprises 0.8% of Headlands Technologies LLC's holdings, making the stock its 25th largest holding. Headlands Technologies LLC's holdings in Applied Materials were worth $6,840,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AMAT. Belpointe Asset Management LLC boosted its position in Applied Materials by 1.7% in the fourth 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 during the last quarter. Old Port Advisors lifted its stake 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 purchasing an additional 66 shares during the period. Silver Oak Securities Incorporated boosted its stake in shares of Applied Materials by 4.7% during the 1st quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock worth $218,000 after acquiring an additional 68 shares during the last quarter. Cromwell Holdings LLC grew its position in shares of Applied Materials by 2.8% during the 1st quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock valued at $369,000 after acquiring an additional 69 shares during the period. Finally, TCTC Holdings LLC raised its holdings in Applied Materials by 7.2% in the 1st quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider's stock worth $152,000 after purchasing an additional 70 shares during the period. 80.56% of the stock is owned by institutional investors.

Applied Materials Trading Up 0.9%

Shares of NASDAQ:AMAT traded up $1.72 during trading on Friday, reaching $184.87. The company's stock had a trading volume of 4,338,229 shares, compared to its average volume of 6,090,117. The stock has a market capitalization of $148.36 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.04 and a beta of 1.70. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $215.70. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The firm's 50 day simple moving average is $181.57 and its two-hundred day simple moving average is $166.81.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. On average, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a dividend yield of 1.0%. Applied Materials's dividend payout ratio is currently 22.38%.

Analyst Upgrades and Downgrades

AMAT has been the subject of several recent research reports. Redburn Atlantic lowered Applied Materials from a "strong-buy" rating to a "hold" rating and cut their price target for the company from $225.00 to $200.00 in a report on Monday, July 7th. Cantor Fitzgerald set a $220.00 price objective on Applied Materials and gave the company an "overweight" rating in a research note on Tuesday, June 24th. B. Riley decreased their target price on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. TD Cowen lowered their price target on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Morgan Stanley upped their price target on shares of Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $204.09.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the firm'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 completion of the sale, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company's stock.

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.