Menard Financial Group LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Menard Financial Group LLC increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 23.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,970 shares of the manufacturing equipment provider’s stock after buying an additional 758 shares during the quarter. Menard Financial Group LLC’s holdings in Applied Materials were worth $937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Redmont Wealth Advisors LLC acquired a new position in shares of Applied Materials during the 1st quarter valued at about $26,000. Summit Securities Group LLC acquired a new position in Applied Materials in the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials in the 2nd quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Applied Materials during the 1st quarter worth approximately $35,000. Finally, RFP Financial Group LLC raised its position in shares of Applied Materials by 96.6% during the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insiders Place Their Bets

In related news, insider Prabu G. Raja sold 50,000 shares of the 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 transaction, 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 Securities & Exchange Commission, which is available at this link. In related news, insider Prabu G. Raja sold 50,000 shares of the company’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 completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials 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 transaction, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Applied Materials Price Performance

Applied Materials stock opened at $188.47 on Monday. The stock has a market cap of $155.37 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. The company has a fifty day simple moving average of $204.08 and a 200-day simple moving average of $210.80. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the business earned $1.90 EPS. Applied Materials’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.85%. Applied Materials’s payout ratio is currently 18.39%.

Analyst Ratings Changes

Several research firms have issued reports on AMAT. Wells Fargo & Company raised their target price on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. UBS Group decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $165.00 to $225.00 in a research report on Wednesday, June 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Finally, Morgan Stanley lifted their target price on shares of Applied Materials from $223.00 to $224.00 and gave the company an “equal weight” rating in a report on Friday, August 16th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.95.

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.