CCM Investment Advisers LLC Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

CCM Investment Advisers LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,755 shares of the manufacturing equipment provider’s stock after selling 184 shares during the quarter. Applied Materials makes up about 2.0% of CCM Investment Advisers LLC’s holdings, making the stock its 15th biggest position. CCM Investment Advisers LLC’s holdings in Applied Materials were worth $16,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in Applied Materials in the 4th quarter valued at $27,000. DSM Capital Partners LLC acquired a new position in Applied Materials in the 4th quarter valued at $37,000. Richardson Financial Services Inc. acquired a new position in Applied Materials in the 4th quarter valued at $43,000. First United Bank & Trust acquired a new position in Applied Materials in the 4th quarter valued at $45,000. Finally, Tompkins Financial Corp acquired a new position in Applied Materials in the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMAT shares. TD Cowen boosted their price target on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Applied Materials in a report on Thursday, April 11th. They set a “hold” rating and a $225.00 price objective for the company. Susquehanna upped their price objective on Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $165.00 to $225.00 in a report on Wednesday, June 5th. Finally, Raymond James upped their price objective on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.04.

Insider Transactions at Applied Materials

In other news, CFO Brice Hill sold 20,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Teri A. Little sold 7,500 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brice Hill sold 20,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,000 shares of company stock valued at $6,598,500. Insiders own 0.29% of the company’s stock.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $237.03 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a 50-day moving average of $211.62 and a two-hundred day moving average of $189.95. The stock has a market cap of $196.25 billion, a P/E ratio of 27.24, a PEG ratio of 3.10 and a beta of 1.56. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $238.40.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter last year, the company posted $2.00 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. Applied Materials’s payout ratio is 18.39%.

Applied Materials 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.