Livingston Group Asset Management CO operating as Southport Capital Management Sells 52,207 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Livingston Group Asset Management CO operating as Southport Capital Management decreased its stake in Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 74.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,516 shares of the manufacturing equipment provider’s stock after selling 52,207 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Applied Materials were worth $2,309,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Applied Materials in the fourth quarter valued at approximately $1,146,885,000. Capital International Investors grew its stake in shares of Applied Materials by 10.5% during the 4th quarter. Capital International Investors now owns 23,268,369 shares of the manufacturing equipment provider’s stock worth $3,661,525,000 after acquiring an additional 2,209,223 shares during the period. Coatue Management LLC purchased a new stake in Applied Materials in the 4th quarter worth about $297,284,000. Capital World Investors raised its stake in Applied Materials by 6.1% in the 4th quarter. Capital World Investors now owns 27,869,799 shares of the manufacturing equipment provider’s stock valued at $4,385,603,000 after acquiring an additional 1,609,461 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Applied Materials by 213.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,519,026 shares of the manufacturing equipment provider’s stock valued at $239,034,000 after purchasing an additional 1,035,037 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

AMAT traded down $1.21 during trading on Tuesday, reaching $85.06. The stock had a trading volume of 275,600 shares, compared to its average volume of 8,090,430. The business has a 50-day moving average of $105.77 and a 200-day moving average of $125.67. Applied Materials, Inc. has a one year low of $84.46 and a one year high of $167.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.54 and a current ratio of 2.29. The stock has a market cap of $74.00 billion, a PE ratio of 11.50, a PEG ratio of 1.38 and a beta of 1.50.

Applied Materials (NASDAQ:AMATGet Rating) last posted its quarterly earnings data on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.05). The firm had revenue of $6.25 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities research analysts forecast that Applied Materials, Inc. will post 7.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, August 24th. Applied Materials’s payout ratio is currently 13.87%.

Applied Materials declared that its Board of Directors has approved a share repurchase program on Friday, March 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Several research firms have recently issued reports on AMAT. Piper Sandler lowered their price target on shares of Applied Materials from $153.00 to $132.00 and set a “neutral” rating on the stock in a research report on Friday, May 20th. Cowen lowered their target price on shares of Applied Materials from $190.00 to $160.00 in a report on Friday, May 20th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday. B. Riley decreased their price objective on Applied Materials from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 16th. Finally, Barclays cut their target price on Applied Materials from $150.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, May 20th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.27.

Applied Materials Company Profile (Get Rating)

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.

Featured Articles

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

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.