Choreo LLC Has $5.87 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Choreo LLC boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 171.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,749 shares of the manufacturing equipment provider’s stock after buying an additional 15,619 shares during the period. Choreo LLC’s holdings in Applied Materials were worth $5,874,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AMAT. Summit Securities Group LLC acquired a new stake in shares of Applied Materials during the second quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials in the 1st quarter worth about $26,000. PSI Advisors LLC boosted its holdings in 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 purchasing an additional 56 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Applied Materials during the 4th quarter worth approximately $27,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Applied Materials during the first quarter worth approximately $35,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Trading Up 1.6 %

AMAT opened at $177.55 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. The company’s 50 day moving average price is $208.77 and its two-hundred day moving average price is $211.26. The firm has a market capitalization of $146.37 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.08 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion for 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 revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, research analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.90%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Mizuho raised their price target on Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. B. Riley decreased their target price on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Raymond James upped their price target on shares of Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.14.

Insider Activity at Applied Materials

In other news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Iannotti sold 9,827 shares of the firm’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 sale, 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 currently owned by company 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.