Sumitomo Mitsui DS Asset Management Company Ltd Acquires 4,345 Shares of Applied Materials, Inc. $AMAT

Key Points

• Sumitomo Mitsui DS Asset Management increased its holdings in Applied Materials by 4.3%, acquiring an additional 4,345 shares, bringing its total to 105,707 shares valued at approximately $19.4 million.
• Analysts have mixed predictions for Applied Materials, with price targets ranging from $170 to $220, while generally rating the stock as a "Moderate Buy" with a consensus target of $192.92.
• Applied Materials declared a quarterly dividend of $0.46 per share, which will be paid on December 11, 2023, reflecting a 1.0% yield based on its annualized payout.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 105,707 shares of the manufacturing equipment provider's stock after acquiring an additional 4,345 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Applied Materials were worth $19,352,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMAT. Runnymede Capital Advisors Inc. grew its holdings in shares of Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after purchasing an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Applied Materials in the 1st quarter worth about $29,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Applied Materials by 435.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider's stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Activest Wealth Management grew its holdings in shares of Applied Materials by 5,325.0% in the 1st quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider's stock worth $31,000 after purchasing an additional 213 shares during the last quarter. Finally, Greenline Partners LLC bought a new stake in Applied Materials during the 1st quarter worth about $39,000. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMAT has been the topic of a number of research analyst reports. Summit Insights lowered shares of Applied Materials from a "buy" rating to a "hold" rating in a report on Friday, August 15th. Daiwa Capital Markets reissued a "neutral" rating and set a $170.00 price objective (down previously from $185.00) on shares of Applied Materials in a report on Wednesday, August 20th. Mizuho reissued a "neutral" rating and set a $175.00 price objective (down previously from $200.00) on shares of Applied Materials in a report on Friday, September 12th. UBS Group decreased their price objective on shares of Applied Materials from $185.00 to $180.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $209.00 target price on shares of Applied Materials in a research note on Friday, August 15th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $192.92.

Insider Activity

In other 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company's stock.

Applied Materials Stock Performance

AMAT stock traded up $0.34 during midday trading on Friday, reaching $190.10. 18,902,154 shares of the company were exchanged, compared to its average volume of 6,833,373. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.76. The business has a 50-day moving average price of $176.30 and a two-hundred day moving average price of $165.58. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70. The firm has a market capitalization of $151.44 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.71 and a beta of 1.77.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.12. Applied Materials had a net margin of 23.88% and a return on equity of 40.96%. The firm had revenue of $7.30 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same period in the previous year, the business posted $2.12 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. Applied Materials has set its Q4 2025 guidance at 1.910-2.310 EPS. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 20th. Applied Materials's payout ratio is 21.93%.

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.