Coronation Fund Managers Ltd. Reduces Holdings in Applied Materials, Inc. $AMAT

Key Points

• Coronation Fund Managers Ltd. significantly reduced its holdings in Applied Materials, Inc. by 47.4% during the 2nd quarter, selling 161,266 shares and now owning 179,010 shares valued at approximately $32.77 million.
• Multiple hedge funds have increased their stakes in Applied Materials, with Nuveen LLC purchasing a new position worth over $1 billion, highlighting continued institutional interest in the company.
• Applied Materials reported an EPS of $2.48 for the recent quarter, exceeding estimates, and declared a quarterly dividend of $0.46 per share, reflecting a dividend yield of 0.8%.

Coronation Fund Managers Ltd. decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 47.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 179,010 shares of the manufacturing equipment provider's stock after selling 161,266 shares during the quarter. Applied Materials makes up about 1.8% of Coronation Fund Managers Ltd.'s holdings, making the stock its 18th largest position. Coronation Fund Managers Ltd.'s holdings in Applied Materials were worth $32,771,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMAT. Nuveen LLC purchased a new position in shares of Applied Materials during the first quarter worth about $1,085,600,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Applied Materials during the second quarter worth about $882,396,000. Pacer Advisors Inc. boosted its stake in shares of Applied Materials by 2,401.0% during the first quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider's stock worth $445,056,000 after buying an additional 2,944,193 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Applied Materials by 43.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,573,673 shares of the manufacturing equipment provider's stock worth $808,853,000 after buying an additional 1,691,428 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Applied Materials by 23.6% during the first quarter. Ameriprise Financial Inc. now owns 7,860,838 shares of the manufacturing equipment provider's stock worth $1,140,836,000 after buying an additional 1,502,995 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $228.13 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 2.50 and a debt-to-equity ratio of 0.28. The company has a market cap of $181.74 billion, a P/E ratio of 27.19, a PEG ratio of 2.81 and a beta of 1.82. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $232.07. The company has a 50-day moving average price of $187.67 and a 200 day moving average price of $175.28.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. The firm 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 firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 earnings per share. Applied Materials has set its Q4 2025 guidance at 1.910-2.310 EPS. Research analysts predict 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, December 11th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, November 20th. Applied Materials's dividend payout ratio (DPR) is presently 21.93%.

Analyst Ratings Changes

AMAT has been the subject of several recent research reports. Citigroup decreased their target price on shares of Applied Materials from $220.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Wolfe Research decreased their target price on shares of Applied Materials from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. DZ Bank downgraded shares of Applied Materials from a "hold" rating to a "sell" rating and set a $150.00 target price for the company. in a research note on Friday, August 15th. TD Cowen decreased their target price on shares of Applied Materials from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Applied Materials from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $209.15.

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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