Townsquare Capital LLC Increases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Townsquare Capital LLC increased its stake in Applied Materials, Inc. by 20.2%, now holding 86,029 shares worth approximately $12.5 million.
• Applied Materials is receiving a wave of investment interest, with several other large investors boosting their holdings significantly, including Pacer Advisors Inc. and GAMMA Investing LLC, which saw increases of 2,401.0% and 18,402.1% respectively.
• The company's recent earnings report showed an EPS of $2.39, exceeding analysts' expectations, while revenue for the quarter totaled $7.10 billion, reflecting a 6.8% year-over-year increase.

Townsquare Capital LLC lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,029 shares of the manufacturing equipment provider's stock after buying an additional 14,452 shares during the period. Townsquare Capital LLC's holdings in Applied Materials were worth $12,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMAT. Davis Selected Advisers lifted its holdings in shares of Applied Materials by 6.0% during the 1st quarter. Davis Selected Advisers now owns 4,993,172 shares of the manufacturing equipment provider's stock valued at $724,609,000 after buying an additional 280,955 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in shares of Applied Materials by 40.1% during the 1st quarter. Savvy Advisors Inc. now owns 2,110 shares of the manufacturing equipment provider's stock valued at $306,000 after buying an additional 604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Applied Materials by 10.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,541,999 shares of the manufacturing equipment provider's stock valued at $223,786,000 after buying an additional 143,583 shares in the last quarter. R. W. Roge & Company Inc. bought a new position in Applied Materials during the first quarter valued at about $217,000. Finally, Headlands Technologies LLC raised its holdings in Applied Materials by 237.7% during the first quarter. Headlands Technologies LLC now owns 47,135 shares of the manufacturing equipment provider's stock valued at $6,840,000 after buying an additional 33,176 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America cut their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen lowered Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. The Goldman Sachs Group assumed coverage on Applied Materials in a report on Thursday, July 10th. They set a "buy" rating and a $225.00 target price on the stock. Mizuho raised their target price on Applied Materials from $195.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. cut their target price on Applied Materials from $240.00 to $210.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and an average target price of $204.09.

Applied Materials Trading Up 2.1%

Applied Materials stock traded up $3.96 during trading hours on Tuesday, reaching $188.34. 2,235,902 shares of the company's stock were exchanged, compared to its average volume of 7,201,098. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $215.70. The firm has a market capitalization of $151.14 billion, a PE ratio of 22.92, a PEG ratio of 2.06 and a beta of 1.70. The firm's 50 day simple moving average is $182.71 and its 200 day simple moving average is $166.37. 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 (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. Research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

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

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the transaction, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is owned by insiders.

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.