Cetera Advisor Networks LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 48.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,549 shares of the manufacturing equipment provider’s stock after acquiring an additional 5,733 shares during the period. Cetera Advisor Networks LLC’s holdings in Applied Materials were worth $703,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Family Legacy Inc. grew its holdings in shares of Applied Materials by 4.4% in the 4th quarter. Family Legacy Inc. now owns 30,602 shares of the manufacturing equipment provider’s stock valued at $1,002,000 after buying an additional 1,288 shares during the period. Aptus Capital Advisors LLC acquired a new position in shares of Applied Materials in the 4th quarter valued at $1,576,000. Pactiv General Employee Benefit Trust acquired a new position in shares of Applied Materials in the 4th quarter valued at $18,165,000. XR Securities LLC acquired a new position in shares of Applied Materials in the 1st quarter valued at $619,000. Finally, Goodman Financial Corp acquired a new position in shares of Applied Materials in the 4th quarter valued at $6,278,000. 78.26% of the stock is owned by institutional investors.
Applied Materials stock opened at $42.70 on Monday. Applied Materials, Inc. has a one year low of $28.79 and a one year high of $53.23. 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 cap of $40.54 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 1.79 and a beta of 1.66.
The firm 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 1.97%. This is an increase from Applied Materials’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio is currently 17.98%.
A number of brokerages recently weighed in on AMAT. BidaskClub lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Susquehanna Bancshares raised shares of Applied Materials from a “neutral” rating to a “positive” rating and upped their target price for the stock from $34.00 to $60.00 in a research note on Wednesday, May 15th. ValuEngine lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. UBS Group upped their target price on shares of Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, B. Riley raised shares of Applied Materials from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $54.00 in a research note on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.95.
In other news, SVP Steve G. Ghanayem sold 25,000 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total transaction of $84,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,255 shares of company stock valued at $6,987,176. Company insiders own 0.44% of the company’s stock.
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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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