Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,655 shares of the manufacturing equipment provider's stock after purchasing an additional 1,564 shares during the quarter. Tectonic Advisors LLC's holdings in Applied Materials were worth $1,836,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMAT. Kornitzer Capital Management Inc. KS bought a new position in Applied Materials in the 1st quarter valued at $776,000. Concord Asset Management LLC VA grew its position in Applied Materials by 3.6% in the 1st quarter. Concord Asset Management LLC VA now owns 12,512 shares of the manufacturing equipment provider's stock valued at $1,797,000 after acquiring an additional 440 shares during the last quarter. Larson Financial Group LLC grew its position in Applied Materials by 3.5% in the 1st quarter. Larson Financial Group LLC now owns 72,201 shares of the manufacturing equipment provider's stock valued at $10,478,000 after acquiring an additional 2,422 shares during the last quarter. Sage Mountain Advisors LLC grew its position in Applied Materials by 35.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 5,723 shares of the manufacturing equipment provider's stock valued at $831,000 after acquiring an additional 1,509 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Applied Materials by 30.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,108 shares of the manufacturing equipment provider's stock valued at $886,000 after acquiring an additional 1,436 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen cut Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Stifel Nicolaus lowered their target price on Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price objective for the company in a research note on Friday, March 28th. TD Cowen decreased their price objective on Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, Barclays decreased their price objective on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $204.74.

Applied Materials Stock Performance

AMAT traded down $2.29 on Thursday, hitting $192.52. 5,702,458 shares of the company traded hands, compared to its average volume of 7,141,590. The company has a 50 day moving average of $174.46 and a 200-day moving average of $165.59. 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 stock has a market capitalization of $154.50 billion, a PE ratio of 23.42, a PEG ratio of 2.22 and a beta of 1.69. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $233.32.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion during 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 period in the prior year, the business earned $2.09 EPS. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the sale, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. This represents a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.