Savant Capital LLC Increases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Savant Capital LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 58.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,325 shares of the manufacturing equipment provider’s stock after acquiring an additional 9,667 shares during the quarter. Savant Capital LLC’s holdings in Applied Materials were worth $6,212,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMAT. Summit Securities Group LLC acquired a new position in Applied Materials in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Applied Materials in the 1st quarter valued at $26,000. PSI Advisors LLC grew its position in shares of Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in Applied Materials during the 4th quarter worth $27,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials in the first quarter valued at $35,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT opened at $174.75 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a 50-day simple moving average of $209.96 and a 200-day simple moving average of $211.27. The company has a market capitalization of $144.69 billion, a PE ratio of 20.09, a P/E/G ratio of 2.35 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. Equities research analysts predict that Applied Materials, Inc. will post 8.47 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Applied Materials’s payout ratio is 18.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group decreased their target price on Applied Materials from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Mizuho raised their price objective on shares of Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, August 16th. Citigroup decreased their target price on shares of Applied Materials from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.14.

Insider Buying and Selling at Applied Materials

In other news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction 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 transaction, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the sale, the insider now owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas J. Iannotti sold 9,827 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the transaction, the director now directly owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Applied Materials Company Profile

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.