Sterling Capital Management LLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,418 shares of the manufacturing equipment provider’s stock after selling 18,595 shares during the period. Sterling Capital Management LLC’s holdings in Applied Materials were worth $9,815,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AMAT. LeJeune Puetz Investment Counsel LLC acquired a new position in Applied Materials during the third quarter valued at $105,000. MPS Loria Financial Planners LLC acquired a new position in Applied Materials during the second quarter valued at $109,000. First Personal Financial Services lifted its position in Applied Materials by 281.5% during the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after purchasing an additional 1,900 shares during the period. Zions Bancorporation lifted its position in Applied Materials by 349.1% during the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 2,049 shares during the period. Finally, Mosaic Family Wealth LLC lifted its position in Applied Materials by 56.1% during the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after purchasing an additional 984 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

In related news, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

A number of research firms recently issued reports on AMAT. BidaskClub downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Wells Fargo & Company began coverage on shares of Applied Materials in a research report on Tuesday, December 5th. They set an “outperform” rating and a $65.00 target price for the company. Zacks Investment Research downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $61.64 target price for the company in a research report on Monday, November 27th. Finally, Nomura reaffirmed a “buy” rating and issued a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.15.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at $51.31 on Friday. Applied Materials, Inc. has a one year low of $31.66 and a one year high of $60.89. The stock has a market cap of $53,825.60, a PE ratio of 15.53, a P/E/G ratio of 0.96 and a beta of 1.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the company earned $0.66 EPS. Applied Materials’s revenue was up 20.4% compared to the same quarter last year. equities analysts expect that Applied Materials, Inc. will post 3.95 earnings per share for the current year.

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About Applied Materials

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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