159,400 Shares in Applied Materials Inc. (AMAT) Acquired by Insight Capital Research & Management Inc.
Insight Capital Research & Management Inc. purchased a new stake in shares of Applied Materials Inc. (NASDAQ:AMAT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 159,400 shares of the manufacturing equipment provider’s stock, valued at approximately $3,821,000. Applied Materials comprises 1.3% of Insight Capital Research & Management Inc.’s investment portfolio, making the stock its 20th largest position.
Other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Applied Materials during the first quarter valued at approximately $335,000. Aperio Group LLC increased its stake in shares of Applied Materials by 11.3% in the first quarter. Aperio Group LLC now owns 392,229 shares of the manufacturing equipment provider’s stock valued at $8,307,000 after buying an additional 39,727 shares during the period. Virginia Retirement System bought a new stake in shares of Applied Materials during the first quarter valued at $412,000. IFP Advisors Inc increased its stake in shares of Applied Materials by 52.9% in the first quarter. IFP Advisors Inc now owns 8,741 shares of the manufacturing equipment provider’s stock valued at $185,000 after buying an additional 3,026 shares during the period. Finally, CIBC World Markets Inc. acquired a new position in Applied Materials during the first quarter worth approximately $3,495,000. 82.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Applied Materials Inc. (NASDAQ:AMAT) traded up 1.93% on Friday, reaching $30.15. The company had a trading volume of 13,209,083 shares. The stock has a market capitalization of $32.59 billion, a PE ratio of 23.78 and a beta of 1.79. Applied Materials Inc. has a 52-week low of $14.44 and a 52-week high of $31.07. The company has a 50 day moving average price of $29.39 and a 200 day moving average price of $24.52.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm earned $2.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, equities research analysts anticipate that Applied Materials Inc. will post $1.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. Applied Materials’s dividend payout ratio (DPR) is 31.25%.
A number of research firms have recently commented on AMAT. Goldman Sachs Group Inc. set a $33.00 price objective on Applied Materials and gave the company a “buy” rating in a report on Friday, August 19th. B. Riley reiterated a “buy” rating and issued a $27.00 price objective on shares of Applied Materials in a report on Tuesday, July 5th. RBC Capital Markets reiterated a “sector perform” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Applied Materials in a report on Wednesday, August 17th. Credit Suisse Group AG reiterated a “buy” rating on shares of Applied Materials in a report on Friday, June 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective (up previously from $29.00) on shares of Applied Materials in a report on Sunday, August 21st. Six analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $30.72.
In other news, VP Omkaram Nalamasu sold 99,491 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $30.15, for a total transaction of $2,999,653.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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