VIRGINIA RETIREMENT SYSTEMS ET Al Has $21.78 Million Stock Position in Applied Materials, Inc. $AMAT

Key Points

• Virginia Retirement Systems cut its Applied Materials stake by 58.1% in the fourth quarter, selling 117,700 shares and ending with 84,730 shares valued at about $21.78 million.
• Wall Street remains broadly bullish on AMAT, with 28 Buy ratings and 7 Holds, a Moderate Buy consensus, and an average price target of $384.52; several firms also recently raised targets or upgraded the stock.
• Applied Materials reported better-than-expected quarterly results, with EPS of $2.38 and revenue of $7.01 billion, and it also increased its quarterly dividend to $0.53 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 58.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,730 shares of the manufacturing equipment provider's stock after selling 117,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Applied Materials were worth $21,775,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMAT. Capital Research Global Investors raised its position in Applied Materials by 225.4% during the third quarter. Capital Research Global Investors now owns 14,877,672 shares of the manufacturing equipment provider's stock valued at $3,046,057,000 after purchasing an additional 10,305,182 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Applied Materials by 617.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,129,483 shares of the manufacturing equipment provider's stock valued at $1,869,170,000 after purchasing an additional 7,856,576 shares in the last quarter. Ameriprise Financial Inc. raised its position in Applied Materials by 40.1% during the third quarter. Ameriprise Financial Inc. now owns 12,520,114 shares of the manufacturing equipment provider's stock valued at $2,563,376,000 after purchasing an additional 3,583,751 shares in the last quarter. Coatue Management LLC acquired a new position in Applied Materials during the third quarter valued at approximately $685,684,000. Finally, Sanders Capital LLC raised its position in Applied Materials by 42.6% during the third quarter. Sanders Capital LLC now owns 10,978,990 shares of the manufacturing equipment provider's stock valued at $2,247,838,000 after purchasing an additional 3,280,730 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on AMAT shares. Morgan Stanley boosted their price objective on shares of Applied Materials from $432.00 to $454.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Erste Group Bank upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a research report on Monday, April 27th. Needham & Company LLC boosted their price objective on shares of Applied Materials from $390.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, February 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $500.00 target price on shares of Applied Materials in a research note on Tuesday. Finally, Mizuho boosted their target price on shares of Applied Materials from $370.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Twenty-eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $384.52.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $436.61 on Thursday. The company has a quick ratio of 1.94, a current ratio of 2.71 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a twelve month low of $153.47 and a twelve month high of $448.45. The stock has a market cap of $346.50 billion, a price-to-earnings ratio of 44.69, a P/E/G ratio of 1.91 and a beta of 1.66. The company's fifty day moving average is $375.73 and its 200 day moving average is $317.13.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.17. Applied Materials had a net margin of 27.78% and a return on equity of 37.52%. The company had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.88 billion. During the same quarter in the previous year, the firm posted $2.38 earnings per share. Applied Materials's revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts forecast that Applied Materials, Inc. will post 11.16 EPS for the current year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 21st will be paid a $0.53 dividend. This is a positive change from Applied Materials's previous quarterly dividend of $0.46. This represents a $2.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st. Applied Materials's payout ratio is presently 21.70%.

Insider Buying and Selling

In related news, Director Judy Bruner sold 2,500 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $391.71, for a total value of $979,275.00. Following the sale, the director owned 26,089 shares of the company's stock, valued at $10,219,322.19. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Adam Sanders sold 534 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $379.16, for a total transaction of $202,471.44. Following the completion of the sale, the chief accounting officer directly owned 4,625 shares in the company, valued at approximately $1,753,615. This represents a 10.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,003 shares of company stock valued at $4,484,189 over the last 90 days. 0.30% of the stock is owned by insiders.

More Applied Materials News

Here are the key news stories impacting Applied Materials this week:

• Positive Sentiment: Citigroup reportedly raised its price target on Applied Materials, adding to a cluster of analyst upgrades that point to confidence in the company’s AI-chip exposure and earnings outlook. Citi massively revamps Applied Materials stock price target
• Positive Sentiment: Analysts are highlighting strong demand in DRAM and logic, with Applied Materials’ semiconductor systems business benefiting from foundry and AI infrastructure spending ahead of earnings. AMAT's Q2 Results to Benefit From Traction in DRAM and Logic
• Positive Sentiment: New coverage and commentary continue to frame AMAT as a key AI infrastructure winner, with articles and TV mentions emphasizing a semiconductor equipment shortage and Applied Materials’ deepening role in chip manufacturing. How Applied Materials (AMAT) Is Deepening Its Role in AI Chip Manufacturing
• Neutral Sentiment: Investors are watching Thursday’s earnings closely, with several previews suggesting the stock could make a big move depending on whether results and guidance confirm the AI-driven rally. Dear Applied Materials Stock Fans, Mark Your Calendars for May 14
• Negative Sentiment: One broader market warning from a top chartist said U.S. tech stocks are at their highest concentration since the 2000 bubble, a reminder that AMAT’s recent strength could face valuation and sentiment risk if the AI trade cools. Wall Street's Top Chartist Warns US Tech Stocks Now At Highest Concentration Since the 2000 Bubble

About Applied Materials

Applied Materials, Inc is a U.S.-based supplier of equipment, services and software used to manufacture semiconductor chips, flat panel displays and other advanced materials. Headquartered in Santa Clara, California, the company designs and sells capital equipment and related technologies that enable production of integrated circuits, display panels and materials used across the electronics supply chain.

Applied Materials' offerings include process equipment and factory software that support critical steps in device fabrication, such as deposition, etch, implantation, inspection and metrology, as well as systems for packaging and advanced heterogeneous integration.

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