New York State Common Retirement Fund Trims Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

New York State Common Retirement Fund cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,084,580 shares of the manufacturing equipment provider's stock after selling 40,434 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Applied Materials worth $157,394,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMAT. Eagle Capital Management LLC lifted its stake in Applied Materials by 1.8% during the fourth quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider's stock worth $2,603,000 after purchasing an additional 290 shares during the last quarter. Brighton Jones LLC lifted its stake in Applied Materials by 28.0% during the fourth quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider's stock worth $2,061,000 after purchasing an additional 2,771 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Applied Materials by 25.7% during the fourth quarter. Proficio Capital Partners LLC now owns 4,530 shares of the manufacturing equipment provider's stock worth $737,000 after purchasing an additional 926 shares during the last quarter. AGF Management Ltd. lifted its stake in Applied Materials by 22.9% during the fourth quarter. AGF Management Ltd. now owns 12,957 shares of the manufacturing equipment provider's stock worth $2,107,000 after purchasing an additional 2,410 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Applied Materials by 3,670.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,491 shares of the manufacturing equipment provider's stock worth $9,675,000 after purchasing an additional 57,913 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Price Performance

NASDAQ:AMAT opened at $197.93 on Friday. The business's 50-day moving average price is $171.91 and its 200 day moving average price is $164.95. The firm has a market cap of $158.84 billion, a P/E ratio of 24.08, a PEG ratio of 2.20 and a beta of 1.69. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $248.81. 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 (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 earned $2.09 earnings per share. Applied Materials's revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a $0.46 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.93%. Applied Materials's dividend payout ratio (DPR) is 22.38%.

Insider Buying and Selling at Applied Materials

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

Wall Street Analyst Weigh In

AMAT has been the topic of several analyst reports. Citigroup increased their target price on Applied Materials from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Rothschild & Co Redburn lowered Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 target price on the stock. in a research report on Monday, July 7th. TD Cowen dropped their target price on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 target price (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Finally, Mizuho dropped their target price on Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $203.65.

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.

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