Coldstream Capital Management Inc. Decreases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Coldstream Capital Management Inc. trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 87.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,450 shares of the manufacturing equipment provider’s stock after selling 64,491 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Applied Materials were worth $375,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in Applied Materials by 179.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 6,812 shares of the manufacturing equipment provider’s stock valued at $271,000 after buying an additional 4,373 shares in the last quarter. Oak Grove Capital LLC acquired a new position in Applied Materials in the 1st quarter valued at $476,000. MML Investors Services LLC grew its holdings in Applied Materials by 17.0% in the 1st quarter. MML Investors Services LLC now owns 55,389 shares of the manufacturing equipment provider’s stock valued at $2,197,000 after buying an additional 8,042 shares in the last quarter. Azimuth Capital Management LLC grew its holdings in Applied Materials by 16.8% in the 1st quarter. Azimuth Capital Management LLC now owns 36,883 shares of the manufacturing equipment provider’s stock valued at $1,463,000 after buying an additional 5,310 shares in the last quarter. Finally, Federated Investors Inc. PA grew its holdings in Applied Materials by 6.8% in the 1st quarter. Federated Investors Inc. PA now owns 267,542 shares of the manufacturing equipment provider’s stock valued at $10,610,000 after buying an additional 17,121 shares in the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.

In related news, SVP Steve G. Ghanayem sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total transaction of $1,067,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen R. Forrest sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $42.45, for a total value of $84,900.00. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

A number of brokerages have commented on AMAT. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, May 21st. BidaskClub downgraded Applied Materials from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Wells Fargo & Co upped their target price on Applied Materials from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Applied Materials in a research report on Sunday, May 19th. Finally, Craig Hallum reiterated a “buy” rating and set a $50.00 target price (up from $44.00) on shares of Applied Materials in a research report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Applied Materials presently has an average rating of “Buy” and a consensus price target of $51.43.

AMAT traded up $0.22 on Friday, reaching $44.91. The stock had a trading volume of 8,247,877 shares, compared to its average volume of 10,320,192. The stock has a market cap of $41.83 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 2.20 and a beta of 1.67. The firm’s 50-day moving average price is $41.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. Applied Materials, Inc. has a fifty-two week low of $28.79 and a fifty-two week high of $50.39.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. As a group, analysts predict that Applied Materials, Inc. will post 2.97 EPS for the current fiscal year.

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 paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a dividend yield of 1.87%. Applied Materials’s payout ratio is 18.88%.

Applied Materials Company Profile

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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