Applied Materials, Inc. (NASDAQ:AMAT) Holdings Trimmed by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,595,646 shares of the manufacturing equipment provider's stock after selling 1,021,732 shares during the period. Applied Materials accounts for 1.4% of Impax Asset Management Group plc's investment portfolio, making the stock its 18th biggest holding. Impax Asset Management Group plc owned 0.20% of Applied Materials worth $230,947,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. grew its holdings in shares of Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Applied Materials during the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. purchased a new position in shares of Applied Materials during the 4th quarter valued at $44,000. Atala Financial Inc purchased a new position in shares of Applied Materials during the 4th quarter valued at $45,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of Applied Materials during the 4th quarter valued at $46,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Applied Materials

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

Applied Materials Price Performance

NASDAQ AMAT opened at $190.86 on Friday. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The stock has a market capitalization of $153.17 billion, a PE ratio of 23.22, a P/E/G ratio of 2.13 and a beta of 1.69. The stock has a 50-day simple moving average of $167.47 and a 200 day simple moving average of $163.94.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The company's quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its board has initiated a stock repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio is 22.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America lowered their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Mizuho decreased their price objective on shares of Applied Materials from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Finally, Stifel Nicolaus reduced their price target on Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $200.76.

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.

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