Applied Materials, Inc. (NASDAQ:AMAT) is Harbor Island Capital LLC’s Largest Position

Harbor Island Capital LLC decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 9.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 240,033 shares of the manufacturing equipment provider’s stock after selling 24,482 shares during the period. Applied Materials comprises 18.6% of Harbor Island Capital LLC’s investment portfolio, making the stock its biggest position. Harbor Island Capital LLC’s holdings in Applied Materials were worth $34,694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Cambridge Investment Research Advisors Inc. grew its position in shares of Applied Materials by 2.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 100,839 shares of the manufacturing equipment provider’s stock valued at $14,575,000 after purchasing an additional 2,381 shares during the period. Romano Brothers AND Company grew its position in shares of Applied Materials by 3.3% in the second quarter. Romano Brothers AND Company now owns 12,472 shares of the manufacturing equipment provider’s stock valued at $1,803,000 after purchasing an additional 400 shares during the period. Symphony Financial Ltd. Co. raised its stake in Applied Materials by 5.1% during the second quarter. Symphony Financial Ltd. Co. now owns 5,554 shares of the manufacturing equipment provider’s stock worth $799,000 after purchasing an additional 272 shares during the period. Keel Point LLC raised its stake in Applied Materials by 4.7% during the second quarter. Keel Point LLC now owns 3,076 shares of the manufacturing equipment provider’s stock worth $445,000 after purchasing an additional 139 shares during the period. Finally, Sciencast Management LP purchased a new position in Applied Materials during the second quarter worth about $723,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMAT. Mizuho reissued a “buy” rating and issued a $158.00 price target on shares of Applied Materials in a research note on Friday. StockNews.com began coverage on shares of Applied Materials in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Wolfe Research began coverage on shares of Applied Materials in a research note on Thursday, September 14th. They issued an “outperform” rating and a $185.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Applied Materials from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Finally, Sanford C. Bernstein boosted their price target on shares of Applied Materials from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.41.

Insider Buying and Selling

In related news, SVP Teri A. Little sold 10,000 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $142.00, for a total value of $1,420,000.00. Following the transaction, the senior vice president now owns 69,504 shares in the company, valued at $9,869,568. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brice Hill sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $150.04, for a total value of $150,040.00. Following the completion of the transaction, the chief financial officer now directly owns 106,023 shares of the company’s stock, valued at $15,907,690.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Teri A. Little sold 10,000 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $142.00, for a total value of $1,420,000.00. Following the completion of the transaction, the senior vice president now directly owns 69,504 shares of the company’s stock, valued at $9,869,568. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Applied Materials Trading Down 1.8 %

NASDAQ AMAT traded down $2.50 during mid-day trading on Tuesday, hitting $137.77. The company’s stock had a trading volume of 3,572,098 shares, compared to its average volume of 6,037,812. Applied Materials, Inc. has a 52-week low of $71.12 and a 52-week high of $155.26. The stock’s fifty day simple moving average is $145.04 and its two-hundred day simple moving average is $131.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.59. The firm has a market capitalization of $115.66 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.87 and a beta of 1.60.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.16. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.15 billion. Applied Materials had a net margin of 24.27% and a return on equity of 49.29%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. Research analysts expect that Applied Materials, Inc. will post 7.9 EPS for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s payout ratio is currently 16.89%.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of 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.