SageView Advisory Group LLC Purchases New Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Posted by Defense World Staff on Jul 24th, 2023

SageView Advisory Group LLC acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,100 shares of the manufacturing equipment provider’s stock, valued at approximately $258,000.

A number of other institutional investors also recently made changes to their positions in the business. Mather Group LLC. grew its holdings in Applied Materials by 13.2% during the 4th quarter. Mather Group LLC. now owns 18,113 shares of the manufacturing equipment provider’s stock worth $1,764,000 after acquiring an additional 2,108 shares in the last quarter. S. R. Schill & Associates acquired a new position in Applied Materials in the fourth quarter worth about $263,000. Balentine LLC increased its holdings in Applied Materials by 6.3% in the fourth quarter. Balentine LLC now owns 13,916 shares of the manufacturing equipment provider’s stock valued at $1,355,000 after buying an additional 825 shares during the last quarter. Silicon Valley Capital Partners acquired a new stake in Applied Materials during the fourth quarter valued at approximately $50,000. Finally, Mcdonald Partners LLC bought a new position in Applied Materials during the 1st quarter worth approximately $204,000. 77.96% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Up 1.8 %

NASDAQ AMAT opened at $136.40 on Monday. The company has a market capitalization of $114.99 billion, a P/E ratio of 17.99, a PEG ratio of 3.46 and a beta of 1.58. Applied Materials, Inc. has a 12 month low of $71.12 and a 12 month high of $146.69. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.26 and a quick ratio of 1.50. The company’s 50 day simple moving average is $136.85 and its 200 day simple moving average is $122.65.

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

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.28 annualized dividend and a yield of 0.94%. Applied Materials’s payout ratio is presently 16.89%.

Insider Buying and Selling at Applied Materials

In other news, SVP Teri A. Little sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $142.00, for a total transaction of $1,420,000.00. Following the sale, the senior vice president now owns 69,504 shares in the company, valued at $9,869,568. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Timothy M. Deane sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $137.30, for a total transaction of $1,029,750.00. Following the transaction, the vice president now directly owns 100,759 shares of the company’s stock, valued at $13,834,210.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Teri A. Little sold 10,000 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $142.00, for a total transaction of $1,420,000.00. Following the completion of the sale, the senior vice president now owns 69,504 shares of the company’s stock, valued at approximately $9,869,568. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Mizuho upped their price target on Applied Materials from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, May 19th. Wells Fargo & Company raised their price target on shares of Applied Materials from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 19th. Stifel Nicolaus boosted their price objective on shares of Applied Materials from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, May 19th. StockNews.com began coverage on shares of Applied Materials in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Redburn Partners assumed coverage on Applied Materials in a report on Tuesday, June 13th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.73.

About Applied Materials

(Free Report)

Applied Materials, Inc engages in the provision of 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.