RMB Capital Management LLC Sells 166 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Posted by AM Reporter Staff on Aug 6th, 2022

RMB Capital Management LLC lowered its holdings in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,139 shares of the manufacturing equipment provider’s stock after selling 166 shares during the quarter. RMB Capital Management LLC’s holdings in Applied Materials were worth $1,336,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Center for Financial Planning Inc. acquired a new position in Applied Materials during the 1st quarter worth about $25,000. Disciplined Investments LLC raised its stake in shares of Applied Materials by 67.3% in the first quarter. Disciplined Investments LLC now owns 251 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 101 shares during the last quarter. Hardy Reed LLC acquired a new position in shares of Applied Materials during the first quarter worth approximately $34,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of Applied Materials during the fourth quarter valued at approximately $35,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of Applied Materials in the first quarter valued at approximately $36,000. Institutional investors own 77.90% of the company’s stock.

Applied Materials Stock Down 1.3 %

Shares of AMAT stock opened at $109.62 on Friday. Applied Materials, Inc. has a 12-month low of $82.67 and a 12-month high of $167.06. The company has a quick ratio of 1.54, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $99.70 and a 200-day moving average of $116.53. The company has a market capitalization of $95.36 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.80 and a beta of 1.51.

Applied Materials (NASDAQ:AMAT – Get Rating) last announced its earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.04). The company had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.35 billion. Applied Materials had a return on equity of 57.17% and a net margin of 27.20%. Applied Materials’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. As a group, equities research analysts predict that Applied Materials, Inc. will post 7.42 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, August 24th. Applied Materials’s payout ratio is 13.87%.

Insiders Place Their Bets

In other news, SVP Teri A. Little sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $86.30, for a total value of $1,294,500.00. Following the sale, the senior vice president now owns 93,169 shares of the company’s stock, valued at $8,040,484.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Craig Hallum lowered their target price on Applied Materials from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, May 20th. Needham & Company LLC cut their target price on shares of Applied Materials from $172.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 20th. Wells Fargo & Company lowered their price target on shares of Applied Materials from $135.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Bank of America cut their price objective on shares of Applied Materials from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Finally, Cowen set a $160.00 target price on shares of Applied Materials in a report on Monday, June 20th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $146.04.

Applied Materials Company Profile

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Applied Materials, Inc provides 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.