Panagora Asset Management Inc. Has $49.81 Million Stake in Applied Materials, Inc. $AMAT

Key Points

• Panagora Asset Management Inc. reduced its holdings in Applied Materials, Inc. by 67.1% in the first quarter, selling 699,331 shares and retaining 343,218 shares valued at approximately $49.8 million.
• Several other hedge funds have made significant changes to their stakes in Applied Materials, with Runnymede Capital Advisors increasing its stake by 972.2% and Activest Wealth Management by 5,325.0%.
• Applied Materials reported earnings of $2.48 per share for the last quarter, beating estimates by $0.12, with revenues of $7.30 billion, up 7.7% year-over-year.

Panagora Asset Management Inc. lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 67.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 343,218 shares of the manufacturing equipment provider's stock after selling 699,331 shares during the period. Panagora Asset Management Inc.'s holdings in Applied Materials were worth $49,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Skye Global Management LP bought a new position in shares of Applied Materials during the fourth quarter worth approximately $45,862,000. Value Partners Investments Inc. increased its stake in shares of Applied Materials by 8.7% during the fourth quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider's stock worth $1,608,000 after purchasing an additional 793 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. bought a new position in shares of Applied Materials during the first quarter worth approximately $230,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of Applied Materials by 12.7% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 26,650 shares of the manufacturing equipment provider's stock worth $3,867,000 after purchasing an additional 3,000 shares during the period. Finally, Redwood Investment Management LLC boosted its stake in shares of Applied Materials by 311.2% in the first quarter. Redwood Investment Management LLC now owns 12,924 shares of the manufacturing equipment provider's stock valued at $1,876,000 after buying an additional 9,781 shares during the period. Institutional investors own 80.56% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America reiterated a "neutral" rating and issued a $180.00 price target (down from $190.00) on shares of Applied Materials in a research note on Friday, August 15th. Cantor Fitzgerald cut their price target on Applied Materials from $220.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Evercore ISI reiterated an "outperform" rating and issued a $209.00 price target on shares of Applied Materials in a research note on Friday, August 15th. Daiwa Capital Markets restated a "neutral" rating and set a $170.00 price objective (down from $185.00) on shares of Applied Materials in a research report on Wednesday, August 20th. Finally, Summit Insights downgraded shares of Applied Materials from a "buy" rating to a "hold" rating in a research report on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $193.88.

Insider Activity

In other news, CAO Adam Sanders sold 562 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the transaction, the chief accounting officer directly owned 5,300 shares in the company, valued at approximately $946,580. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company's stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT traded down $4.51 during trading on Friday, hitting $160.76. 7,198,461 shares of the company were exchanged, compared to its average volume of 8,177,691. The business's 50 day moving average is $182.15 and its 200-day moving average is $165.23. The company has a market capitalization of $128.07 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 2.29 and a beta of 1.77. The company has a quick ratio of 1.76, a current ratio of 2.50 and a debt-to-equity ratio of 0.28. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. The company had revenue of $7.30 billion during the quarter, compared to the consensus estimate of $7.21 billion. Applied Materials had a net margin of 23.88% and a return on equity of 40.96%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 earnings per share. Applied Materials has set its Q4 2025 guidance at 1.910-2.310 EPS. Equities analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a dividend yield of 1.1%. Applied Materials's dividend payout ratio is 21.93%.

Applied Materials Company 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.