Flagship Harbor Advisors LLC Grows Stake in Applied Materials, Inc. (AMAT)

Flagship Harbor Advisors LLC grew its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,706 shares of the manufacturing equipment provider’s stock after buying an additional 298 shares during the period. Flagship Harbor Advisors LLC’s holdings in Applied Materials were worth $186,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Roanoke Asset Management Corp NY increased its position in shares of 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 valued at $2,537,000 after purchasing an additional 260 shares during the last quarter. Providence First Trust Co increased its position in shares of Applied Materials by 1.2% during the 4th quarter. Providence First Trust Co now owns 22,564 shares of the manufacturing equipment provider’s stock valued at $739,000 after purchasing an additional 266 shares during the last quarter. West Oak Capital LLC increased its position in shares of Applied Materials by 6.7% during the 1st quarter. West Oak Capital LLC now owns 4,405 shares of the manufacturing equipment provider’s stock valued at $175,000 after purchasing an additional 275 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in 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 during the last quarter. Finally, Legacy Financial Advisors Inc. grew its position in 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 during the last quarter. 78.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ AMAT traded down $0.14 during mid-day trading on Friday, reaching $40.80. 8,979,986 shares of the company were exchanged, compared to its average volume of 8,023,856. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.72 and a quick ratio of 1.74. The stock has a market capitalization of $38.87 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.66. 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 quarterly earnings data on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. Applied Materials had a return on equity of 58.28% and a net margin of 23.50%. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the business posted $1.06 EPS. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 2.94 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders 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 is a boost from Applied Materials’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.06%. Applied Materials’s dividend payout ratio (DPR) is 17.98%.

Several equities analysts have commented on AMAT shares. Royal Bank of Canada raised Applied Materials from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $38.00 to $45.00 in a research report on Tuesday, January 29th. DZ Bank downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Zacks Investment Research raised Applied Materials from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, ValuEngine upgraded Applied Materials from a “sell” rating to a “hold” rating in a report on Friday, April 19th. 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. The company presently has an average rating of “Buy” and an average target price of $49.90.

In other Applied Materials news, Director Stephen R. Forrest sold 2,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was 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 can be accessed through the SEC website. Also, SVP Steve G. Ghanayem sold 25,000 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total value of $1,067,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,255 shares of company stock valued at $6,987,176. 0.44% of the stock is currently owned by company insiders.

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

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