Signet Financial Management LLC Lowers Position in Applied Materials, Inc. (NASDAQ:AMAT)

Signet Financial Management LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,601 shares of the manufacturing equipment provider’s stock after selling 10,194 shares during the quarter. Applied Materials comprises 1.0% of Signet Financial Management LLC’s investment portfolio, making the stock its 28th biggest holding. Signet Financial Management LLC’s holdings in Applied Materials were worth $5,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMAT. Princeton Global Asset Management LLC bought a new stake in shares of Applied Materials during the 1st quarter valued at $27,000. Next Capital Management LLC purchased a new stake in shares of Applied Materials in the 2nd quarter worth about $35,000. Sandy Spring Bank increased its stake in shares of Applied Materials by 57.4% in the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after acquiring an additional 287 shares in the last quarter. Cable Hill Partners LLC increased its stake in shares of Applied Materials by 378.4% in the 1st quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after acquiring an additional 632 shares in the last quarter. Finally, Coastal Capital Group Inc. bought a new position in shares of Applied Materials in the 2nd quarter worth about $36,000. Institutional investors own 79.88% of the company’s stock.

Several equities research analysts recently commented on AMAT shares. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Applied Materials in a research note on Sunday, August 18th. UBS Group raised their target price on shares of Applied Materials from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Susquehanna Bancshares set a $60.00 target price on shares of Applied Materials and gave the company a “buy” rating in a research note on Friday, August 16th. Deutsche Bank lifted their target price on shares of Applied Materials from $44.00 to $47.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Citigroup boosted their price target on Applied Materials from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $51.00.

In other news, Director Stephen R. Forrest sold 3,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total value of $138,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total transaction of $1,297,213.92. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

Shares of NASDAQ:AMAT traded up $1.25 during trading on Wednesday, reaching $51.44. 3,379,132 shares of the stock traded hands, compared to its average volume of 7,766,748. The stock has a market cap of $46.27 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 3.38 and a beta of 1.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The stock has a 50-day moving average of $48.06 and a two-hundred day moving average of $43.48. Applied Materials, Inc. has a 52-week low of $28.79 and a 52-week high of $52.42.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. Sell-side analysts expect that Applied Materials, Inc. will post 3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, November 20th. Applied Materials’s payout ratio is 18.88%.

About Applied Materials

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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