TCW Group Inc. Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• TCW Group Inc. increased its holdings in Applied Materials, Inc. by 42.6% during the first quarter, bringing its total shares to 42,887 which are valued at approximately $6.22 million.
• Analysts have mixed ratings on Applied Materials, with 17 buy ratings and 9 hold ratings, while the average target price is set at $204.74.
• Applied Materials announced a quarterly dividend of $0.46 per share, with a dividend yield of 0.99% and a payout ratio of 22.38%.

TCW Group Inc. grew its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 42.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,887 shares of the manufacturing equipment provider's stock after purchasing an additional 12,810 shares during the period. TCW Group Inc.'s holdings in Applied Materials were worth $6,224,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AMAT. Belpointe Asset Management LLC lifted 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 valued at $607,000 after buying an additional 62 shares during the period. Old Port Advisors raised its holdings in 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 raised its holdings 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 period. Cromwell Holdings LLC raised its holdings 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 period. Finally, Hardy Reed LLC raised its holdings in Applied Materials by 1.0% in the 1st quarter. Hardy Reed LLC now owns 7,324 shares of the manufacturing equipment provider's stock worth $1,063,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

Shares of AMAT traded down $9.99 during trading hours on Thursday, reaching $179.40. 5,299,572 shares of the company traded hands, compared to its average volume of 7,247,870. The stock has a market capitalization of $143.97 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.10 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, 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 price of $179.07 and a 200-day moving average price of $166.88.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating 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 firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the company earned $2.09 earnings per share. The business's quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, August 21st. Applied Materials's payout ratio is 22.38%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. B. Riley decreased their target price on Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, May 12th. The Goldman Sachs Group assumed coverage on Applied Materials in a report on Thursday, July 10th. They issued a "buy" rating and a $225.00 target price on the stock. Morgan Stanley raised their target price on Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Wells Fargo & Company raised their target price on Applied Materials from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Mizuho increased their price target on Applied Materials from $195.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Applied Materials presently has an average rating of "Moderate Buy" and a consensus target price of $205.17.

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.