Ninety One UK Ltd Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Ninety One UK Ltd reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 67.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,847 shares of the manufacturing equipment provider’s stock after selling 70,490 shares during the quarter. Ninety One UK Ltd’s holdings in Applied Materials were worth $4,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Applied Materials in the 4th quarter worth $1,146,885,000. Capital World Investors boosted its position in shares of Applied Materials by 21.5% in the 1st quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock worth $4,461,584,000 after purchasing an additional 5,980,777 shares in the last quarter. Cowa LLC acquired a new stake in shares of Applied Materials in the 1st quarter worth $76,000. Capital International Investors boosted its position in shares of Applied Materials by 10.5% in 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 purchasing an additional 2,209,223 shares in the last quarter. Finally, Egerton Capital UK LLP acquired a new stake in shares of Applied Materials in the 1st quarter worth $263,732,000. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Cowen reduced their target price on Applied Materials from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, August 19th. Citigroup reduced their target price on Applied Materials from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, August 22nd. Mizuho reduced their target price on Applied Materials from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, August 19th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Cowen reduced their target price on Applied Materials from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, August 19th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $142.38.

Insider Buying and Selling

In related news, SVP Teri A. Little sold 15,000 shares of Applied Materials stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $86.30, for a total value of $1,294,500.00. Following the sale, the senior vice president now directly owns 93,169 shares in the company, valued at approximately $8,040,484.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.

Applied Materials Trading Down 1.9 %

AMAT stock opened at $88.92 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. Applied Materials, Inc. has a 12-month low of $82.67 and a 12-month high of $167.06. The stock has a market cap of $76.50 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.59 and a beta of 1.53. The business’s 50-day moving average is $99.44 and its 200 day moving average is $109.13.

Applied Materials (NASDAQ:AMATGet Rating) last posted its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.15. Applied Materials had a return on equity of 56.68% and a net margin of 26.42%. The company had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same period in the previous year, the firm posted $1.90 EPS. Applied Materials’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 7.68 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, November 23rd. Applied Materials’s payout ratio is 13.90%.

Applied Materials Company Profile

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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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