First Hawaiian Bank Decreases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

First Hawaiian Bank lowered its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,465 shares of the manufacturing equipment provider’s stock after selling 629 shares during the quarter. First Hawaiian Bank’s holdings in Applied Materials were worth $2,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Mather Group LLC. increased its position in Applied Materials by 13.2% during the fourth quarter. Mather Group LLC. now owns 18,113 shares of the manufacturing equipment provider’s stock valued at $1,764,000 after acquiring an additional 2,108 shares during the last quarter. Chelsea Counsel Co. purchased a new stake in Applied Materials in the first quarter worth about $28,000. Silicon Valley Capital Partners purchased a new stake in Applied Materials in the fourth quarter worth about $50,000. Mcdonald Partners LLC purchased a new stake in Applied Materials in the first quarter worth about $204,000. Finally, Claro Advisors LLC increased its position in Applied Materials by 109.7% in the fourth quarter. Claro Advisors LLC now owns 4,931 shares of the manufacturing equipment provider’s stock worth $480,000 after buying an additional 2,580 shares in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Insider Buying and Selling at Applied Materials

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

Wall Street Analysts Forecast Growth

AMAT has been the subject of a number of analyst reports. StockNews.com initiated coverage on Applied Materials in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Citigroup upped their price objective on Applied Materials from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Susquehanna upped their price objective on Applied Materials from $112.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, August 21st. B. Riley upped their price objective on Applied Materials from $150.00 to $175.00 in a research note on Monday, July 17th. Finally, Needham & Company LLC lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.41.

Applied Materials Trading Down 0.0 %

AMAT opened at $144.57 on Friday. The stock’s fifty day moving average is $144.98 and its two-hundred day moving average is $131.51. The company has a market capitalization of $121.37 billion, a P/E ratio of 19.07, a PEG ratio of 3.02 and a beta of 1.60. Applied Materials, Inc. has a 52 week low of $71.12 and a 52 week high of $155.26. The company has a quick ratio of 1.59, a current ratio of 2.30 and a debt-to-equity ratio of 0.36.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.16. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Applied Materials had a return on equity of 49.29% and a net margin of 24.27%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 EPS. Analysts forecast that Applied Materials, Inc. will post 7.85 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. Applied Materials’s dividend payout ratio is currently 16.89%.

Applied Materials 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.