Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 5,283.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 107,671 shares of the manufacturing equipment provider’s stock after purchasing an additional 105,671 shares during the quarter. Gabelli Funds LLC’s holdings in Applied Materials were worth $22,205,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AMAT. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the first quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Applied Materials in the fourth quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials during the first quarter worth about $35,000. RFP Financial Group LLC increased its stake in Applied Materials by 96.6% during the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after purchasing an additional 85 shares during the period. Finally, DSM Capital Partners LLC purchased a new stake in Applied Materials during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Up 2.1 %

Applied Materials stock traded up $4.15 during mid-day trading on Friday, hitting $206.47. The company had a trading volume of 5,208,974 shares, compared to its average volume of 5,394,189. The stock has a market cap of $170.95 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.53 and a beta of 1.56. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $229.49 and a 200 day moving average of $205.75.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. On average, sell-side analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s payout ratio is currently 18.39%.

Insider Activity

In other news, insider Prabu G. Raja sold 50,000 shares of the 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 completion of the sale, the insider now directly 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 available through this hyperlink. In other news, insider Prabu G. Raja sold 50,000 shares of the 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 completion of the sale, the insider now directly 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 available through this hyperlink. Also, SVP Teri A. Little sold 2,500 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $221.62, for a total value of $554,050.00. Following the completion of the sale, the senior vice president now directly owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,827 shares of company stock valued at $21,382,560. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. TD Cowen boosted their price target on shares of Applied Materials from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Jefferies Financial Group lowered shares of Applied Materials from a “buy” rating to a “hold” rating and cut their price target for the stock from $215.00 to $210.00 in a research note on Monday, May 13th. Cantor Fitzgerald boosted their price target on shares of Applied Materials from $260.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Susquehanna boosted their price target on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.84.

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.