Mediolanum International Funds Ltd Lowers Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Mediolanum International Funds Ltd has decreased its stake in Applied Materials, Inc. by 37.1%, now holding 203,297 shares worth approximately $29.49 million after selling 119,966 shares in the first quarter.
• Several institutional investors, including Brighton Jones LLC and Eagle Capital Management LLC, also increased their holdings in Applied Materials during the fourth quarter, reflecting a strong institutional interest in the stock.
• Research analysts have issued mixed price targets for Applied Materials, with targets ranging from $160.00 to $240.00, indicating varying expectations about the company's future performance.

Mediolanum International Funds Ltd cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 37.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 203,297 shares of the manufacturing equipment provider's stock after selling 119,966 shares during the period. Mediolanum International Funds Ltd's holdings in Applied Materials were worth $29,490,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMAT. Pacer Advisors Inc. lifted its stake in shares of Applied Materials by 2,401.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider's stock worth $445,056,000 after acquiring an additional 2,944,193 shares during the period. GAMMA Investing LLC lifted its stake in shares of Applied Materials by 18,402.1% in the 1st 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 lifted its stake in shares of Applied Materials by 18.6% in the 4th 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 lifted its stake 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 period. Finally, Two Sigma Investments LP lifted its stake in shares of Applied Materials by 10,767.6% in the 4th 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 owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares of the company's stock, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMAT shares. Morgan Stanley upped their price target on shares of Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Wall Street Zen downgraded Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Rothschild & Co Redburn downgraded Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 target price for the company. in a report on Monday, July 7th. Needham & Company LLC restated a "buy" rating and set a $195.00 price target on shares of Applied Materials in a report on Friday, May 16th. Finally, Stifel Nicolaus cut their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $204.74.

Applied Materials Price Performance

Shares of AMAT traded down $2.43 during midday trading on Friday, hitting $185.69. 6,580,937 shares of the company traded hands, compared to its average volume of 6,161,150. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The stock has a 50-day moving average of $177.59 and a 200-day moving average of $166.52. The firm has a market cap of $149.02 billion, a P/E ratio of 22.59, a PEG ratio of 2.07 and a beta of 1.69. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period last year, the business earned $2.09 earnings per share. The business's quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

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.