Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Generali Investments Management Co LLC

Generali Investments Management Co LLC trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 21.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 11,579 shares of the manufacturing equipment provider's stock after selling 3,143 shares during the period. Generali Investments Management Co LLC's holdings in Applied Materials were worth $1,680,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMAT. Norges Bank purchased a new position in Applied Materials in the fourth quarter worth approximately $1,588,422,000. GAMMA Investing LLC grew its position in Applied Materials by 18,402.1% in the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider's stock worth $2,647,430,000 after acquiring an additional 1,814,444 shares during the period. Northern Trust Corp grew its position in Applied Materials by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider's stock worth $1,663,780,000 after acquiring an additional 1,602,645 shares during the period. Kovitz Investment Group Partners LLC grew its position in Applied Materials by 301.6% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after acquiring an additional 1,471,953 shares during the period. Finally, Two Sigma Investments LP grew its position in Applied Materials by 10,767.6% in the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock worth $219,157,000 after acquiring an additional 1,335,180 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Applied Materials news, CEO Gary E. Dickerson purchased 50,000 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This represents a 3.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the sale, the chief accounting officer now owns 6,077 shares in the company, valued at approximately $880,131.91. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Applied Materials Stock Up 1.6%

Shares of NASDAQ AMAT traded up $2.55 during mid-day trading on Friday, hitting $166.74. The company had a trading volume of 5,678,527 shares, compared to its average volume of 6,952,352. The company has a market capitalization of $133.81 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89. The business's 50-day simple moving average is $151.80 and its 200 day simple moving average is $163.26.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. On average, analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has authorized a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price objective on shares of Applied Materials in a research report on Friday, May 16th. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Raymond James restated an "outperform" rating and set a $200.00 price target (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Citigroup raised their price target on Applied Materials from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Mizuho lowered their price target on Applied Materials from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Applied Materials has an average rating of "Moderate Buy" and an average price target of $199.29.

About Applied Materials

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.