Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 693,463 shares of the manufacturing equipment provider's stock after selling 56,374 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Applied Materials worth $100,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAT. Skye Global Management LP purchased a new position in Applied Materials during the 4th quarter worth approximately $45,862,000. Value Partners Investments Inc. raised its position in Applied Materials by 8.7% during the 4th quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider's stock worth $1,608,000 after buying an additional 793 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. purchased a new position in Applied Materials during the 1st quarter worth approximately $230,000. Townsquare Capital LLC raised its position in Applied Materials by 15.6% during the 4th quarter. Townsquare Capital LLC now owns 71,577 shares of the manufacturing equipment provider's stock worth $11,640,000 after buying an additional 9,672 shares during the last quarter. Finally, Argentarii LLC purchased a new position in Applied Materials during the 4th quarter worth approximately $471,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Insider Activity

In related news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction dated 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. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson bought 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the transaction, the chief executive officer owned 1,716,058 shares of the company's stock, valued at $235,614,763.40. The trade was a 3.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded up $5.83 on Wednesday, reaching $189.59. The company's stock had a trading volume of 3,113,215 shares, compared to its average volume of 7,038,588. 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's 50-day moving average is $164.94 and its two-hundred day moving average is $163.46. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89. The stock has a market capitalization of $152.15 billion, a P/E ratio of 23.05, a PEG ratio of 2.04 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its 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 return on equity of 40.15% and a net margin of 24.06%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the company earned $2.09 earnings per share. Applied Materials's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its board has approved a share buyback plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a $0.46 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a yield of 0.97%. Applied Materials's payout ratio is 22.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Applied Materials in a research note on Friday, May 16th. Citigroup boosted their price target on shares of Applied Materials from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 16th. TD Cowen lowered their price target on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $200.76.

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.