McGuire Investment Group LLC increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,209 shares of the manufacturing equipment provider’s stock after acquiring an additional 632 shares during the period. Applied Materials comprises approximately 2.0% of McGuire Investment Group LLC’s portfolio, making the stock its 15th biggest holding. McGuire Investment Group LLC’s holdings in Applied Materials were worth $6,037,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Moody National Bank Trust Division bought a new position in Applied Materials during the fourth quarter valued at about $25,000. Lenox Wealth Advisors LLC raised its holdings in Applied Materials by 73.7% during the first quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in Applied Materials during the first quarter valued at about $31,000. Sontag Advisory LLC bought a new position in Applied Materials during the fourth quarter valued at about $30,000. Finally, Bruderman Asset Management LLC bought a new position in Applied Materials during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 78.98% of the company’s stock.
In other news, Director Stephen R. Forrest sold 2,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steve G. Ghanayem sold 25,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total transaction of $1,067,500.00. The disclosure for this sale can be found here. Insiders sold 170,255 shares of company stock valued at $6,987,176 in the last quarter. 0.44% of the stock is currently owned by corporate insiders.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. Applied Materials had a net margin of 23.50% and a return on equity of 58.28%. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. Applied Materials’s quarterly revenue was down 10.7% compared to the same quarter last year. On average, analysts predict that Applied Materials, Inc. will post 2.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s payout ratio is 17.98%.
Several equities analysts have weighed in on AMAT shares. Stifel Nicolaus cut their target price on Applied Materials from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, February 11th. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. Argus restated a “buy” rating on shares of Applied Materials in a report on Tuesday, February 19th. Needham & Company LLC restated a “buy” rating on shares of Applied Materials in a report on Sunday, January 6th. Finally, ValuEngine upgraded Applied Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $49.90.
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Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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