Wakefield Asset Management LLLP Decreases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Wakefield Asset Management LLLP decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,885 shares of the manufacturing equipment provider’s stock after selling 327 shares during the quarter. Applied Materials accounts for about 1.3% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 19th largest holding. Wakefield Asset Management LLLP’s holdings in Applied Materials were worth $3,749,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms have issued reports on AMAT. Morgan Stanley lifted their price objective on Applied Materials from $223.00 to $224.00 and gave the stock an “equal weight” rating in a report on Friday, August 16th. Susquehanna upped their price target on shares of Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Jefferies Financial Group lowered shares of Applied Materials from a “buy” rating to a “hold” rating and cut their target price for the company from $215.00 to $210.00 in a research note on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.14.

Insiders Place Their Bets

In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the sale, the insider now owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the transaction, the insider now owns 458,417 shares in the company, valued at $114,223,763.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Applied Materials Stock Down 3.0 %

Applied Materials stock opened at $174.75 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The company has a 50-day simple moving average of $209.96 and a 200-day simple moving average of $211.12. The firm has a market capitalization of $144.69 billion, a P/E ratio of 20.09, a P/E/G ratio of 2.35 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. The firm 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%. Applied Materials’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. As a group, equities analysts expect that Applied Materials, Inc. will post 8.47 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s payout ratio is currently 18.39%.

About Applied Materials

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.