Aureus Asset Management LLC Grows Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Posted by on Jun 14th, 2023

Aureus Asset Management LLC increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,367 shares of the manufacturing equipment provider’s stock after buying an additional 216 shares during the quarter. Aureus Asset Management LLC’s holdings in Applied Materials were worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMAT. Carolinas Wealth Consulting LLC lifted its position in Applied Materials by 55.0% during the third quarter. Carolinas Wealth Consulting LLC now owns 372 shares of the manufacturing equipment provider’s stock worth $30,000 after buying an additional 132 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Applied Materials by 256.4% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,055 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 759 shares during the period. Independence Bank of Kentucky raised its holdings in shares of Applied Materials by 100.0% in the 4th quarter. Independence Bank of Kentucky now owns 400 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 200 shares during the period. Global Wealth Strategies & Associates purchased a new position in shares of Applied Materials in the 4th quarter worth about $39,000. Finally, Destiny Wealth Partners LLC purchased a new position in shares of Applied Materials in the 4th quarter worth about $40,000. 75.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Timothy M. Deane sold 7,500 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $137.30, for a total value of $1,029,750.00. Following the completion of the sale, the vice president now owns 100,759 shares in the company, valued at $13,834,210.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Timothy M. Deane sold 7,500 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $137.30, for a total value of $1,029,750.00. Following the completion of the sale, the vice president now owns 100,759 shares in the company, valued at $13,834,210.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Omkaram Nalamasu sold 29,444 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $124.70, for a total value of $3,671,666.80. Following the completion of the sale, the senior vice president now owns 194,298 shares of the company’s stock, valued at approximately $24,228,960.60. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho raised their price objective on Applied Materials from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, May 19th. Wells Fargo & Company raised their price objective on Applied Materials from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 19th. Barclays raised their price objective on Applied Materials from $90.00 to $100.00 and gave the stock an “underweight” rating in a report on Friday, May 19th. B. Riley raised their target price on Applied Materials from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 17th. Finally, Redburn Partners initiated coverage on Applied Materials in a report on Tuesday. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Applied Materials Trading Up 1.3 %

Shares of AMAT stock opened at $141.79 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.50 and a current ratio of 2.26. Applied Materials, Inc. has a 1 year low of $71.12 and a 1 year high of $142.53. The stock has a fifty day moving average of $121.57 and a two-hundred day moving average of $115.19. The firm has a market capitalization of $119.07 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT – Get Rating) last announced its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.16. Applied Materials had a return on equity of 52.81% and a net margin of 24.36%. The company had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts expect that Applied Materials, Inc. will post 7.34 EPS for the current year.

Applied Materials announced that its Board of Directors has approved a stock repurchase plan on Monday, March 13th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to repurchase up to 9.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $1.28 annualized dividend and a dividend yield of 0.90%. Applied Materials’s dividend payout ratio (DPR) is 16.89%.

Applied Materials Company Profile

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Applied Materials, Inc provides manufacturing equipment, services and software to the semiconductor, display and related industries. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

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

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