Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 359,841 shares of the manufacturing equipment provider's stock after selling 22,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Applied Materials were worth $52,220,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Applied Materials during the fourth quarter valued at about $1,588,422,000. GAMMA Investing LLC boosted its stake 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 buying an additional 1,814,444 shares in the last quarter. Northern Trust Corp raised its stake in shares of Applied Materials by 18.6% during 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 in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Applied Materials by 301.6% in the 4th 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 last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Applied Materials by 10,767.6% during the 4th quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock valued at $219,157,000 after purchasing an additional 1,335,180 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target on the stock in a research report on Friday, March 28th. Rothschild & Co Redburn lowered shares of Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price objective on the stock. in a research note on Monday, July 7th. Mizuho raised their price target on Applied Materials from $195.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Stifel Nicolaus cut their price objective on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Applied Materials in a research note on Friday, May 16th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.74.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the transaction, the chief accounting officer owned 5,300 shares of the company's stock, valued at approximately $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

Applied Materials Trading Down 1.7%

NASDAQ:AMAT traded down $3.25 on Friday, hitting $184.87. The stock had a trading volume of 2,759,691 shares, compared to its average volume of 7,293,450. The company has a fifty day moving average price of $177.19 and a two-hundred day moving average price of $166.54. The stock has a market cap of $148.36 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.08 and a beta of 1.69. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. 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 posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. Equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a dividend yield of 1.00%. Applied Materials's dividend payout ratio is presently 22.38%.

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.