Beech Hill Advisors Inc. Trims Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Beech Hill Advisors Inc. cut its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,575 shares of the manufacturing equipment provider’s stock after selling 1,170 shares during the quarter. Applied Materials accounts for about 3.0% of Beech Hill Advisors Inc.’s holdings, making the stock its 7th biggest holding. Beech Hill Advisors Inc.’s holdings in Applied Materials were worth $7,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in Applied Materials in the fourth quarter valued at $27,000. DSM Capital Partners LLC bought a new position in shares of Applied Materials during the fourth quarter worth about $37,000. Accent Capital Management LLC acquired a new position in shares of Applied Materials in the fourth quarter worth approximately $41,000. Richardson Financial Services Inc. bought a new stake in Applied Materials in the fourth quarter valued at approximately $43,000. Finally, First United Bank & Trust acquired a new stake in Applied Materials during the 4th quarter valued at approximately $45,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Performance

Shares of AMAT stock traded up $4.43 during trading on Tuesday, hitting $234.27. The company’s stock had a trading volume of 4,595,765 shares, compared to its average volume of 5,800,904. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The company has a market cap of $193.97 billion, a PE ratio of 26.74, a P/E/G ratio of 3.08 and a beta of 1.56. The business has a fifty day moving average of $215.39 and a 200-day moving average of $193.86. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $249.42.

Applied Materials (NASDAQ:AMATGet Free Report) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same period in the previous year, the business posted $2.00 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. Applied Materials’s payout ratio is presently 18.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMAT shares. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a research report on Friday, May 17th. Evercore ISI assumed coverage on Applied Materials in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price objective on the stock. TD Cowen raised their target price on Applied Materials from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Raymond James boosted their price target on Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Applied Materials from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $221.84.

Check Out Our Latest Research Report on AMAT

Insider Activity at Applied Materials

In other news, SVP Teri A. Little sold 2,500 shares of Applied Materials stock in a transaction on Friday, June 7th. The stock was sold at an average price of $221.62, for a total value of $554,050.00. Following the completion of the transaction, the senior vice president now directly owns 76,212 shares in the company, valued at $16,890,103.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Teri A. Little sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the completion of the transaction, the senior vice president now owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the sale, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,827 shares of company stock worth $21,382,560. Company insiders own 0.29% of the company’s stock.

Applied Materials Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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