Thrivent Financial for Lutherans Trims Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Thrivent Financial for Lutherans trimmed its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 83.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,061 shares of the manufacturing equipment provider’s stock after selling 226,534 shares during the period. Thrivent Financial for Lutherans’ holdings in Applied Materials were worth $1,443,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Roanoke Asset Management Corp NY boosted its position in Applied Materials by 0.3% during the 4th quarter. Roanoke Asset Management Corp NY now owns 77,495 shares of the manufacturing equipment provider’s stock worth $2,537,000 after buying an additional 260 shares during the period. Providence First Trust Co increased its stake in shares of Applied Materials by 1.2% in the 4th quarter. Providence First Trust Co now owns 22,564 shares of the manufacturing equipment provider’s stock valued at $739,000 after acquiring an additional 266 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Applied Materials by 2.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 10,076 shares of the manufacturing equipment provider’s stock valued at $330,000 after acquiring an additional 280 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Applied Materials by 14.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 2,405 shares of the manufacturing equipment provider’s stock valued at $79,000 after acquiring an additional 300 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its stake in Applied Materials by 0.4% during the 4th quarter. Buckingham Capital Management Inc. now owns 88,027 shares of the manufacturing equipment provider’s stock valued at $2,882,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 78.86% of the company’s stock.

In other news, SVP Steve G. Ghanayem sold 25,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total transaction of $1,067,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Omkaram Nalamasu sold 143,255 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $40.73, for a total value of $5,834,776.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 170,255 shares of company stock valued at $6,987,176. Insiders own 0.44% of the company’s stock.

AMAT has been the subject of a number of recent research reports. ValuEngine upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Needham & Company LLC restated a “buy” rating on shares of Applied Materials in a research note on Sunday, January 6th. Stifel Nicolaus set a $63.00 price target on shares of Applied Materials and gave the company a “buy” rating in a research note on Tuesday, January 8th. Zacks Investment Research downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Royal Bank of Canada raised shares of Applied Materials from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $38.00 to $45.00 in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $49.90.

Shares of AMAT opened at $44.66 on Friday. The company has a market capitalization of $42.40 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.84 and a beta of 1.64. The company has a quick ratio of 1.74, a current ratio of 2.72 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a 1 year low of $28.79 and a 1 year high of $56.94.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.71 billion. Applied Materials had a return on equity of 58.28% and a net margin of 23.50%. Applied Materials’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Sell-side analysts anticipate that Applied Materials, Inc. will post 2.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s dividend payout ratio is 17.98%.

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About Applied Materials

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

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