Victory Capital Management Inc. Reduces Position in Applied Materials, Inc. (AMAT)
Victory Capital Management Inc. decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 32.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 402,750 shares of the manufacturing equipment provider’s stock after selling 190,439 shares during the quarter. Victory Capital Management Inc.’s holdings in Applied Materials were worth $20,979,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMAT. Schwab Charles Investment Management Inc. raised its stake in Applied Materials by 8.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 3,774,861 shares of the manufacturing equipment provider’s stock worth $146,843,000 after acquiring an additional 303,306 shares during the period. Marsico Capital Management LLC acquired a new stake in shares of Applied Materials in the first quarter valued at approximately $18,984,000. Oppenheimer & Co. Inc. increased its stake in shares of Applied Materials by 19.3% in the first quarter. Oppenheimer & Co. Inc. now owns 74,466 shares of the manufacturing equipment provider’s stock valued at $2,897,000 after purchasing an additional 12,047 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Applied Materials in the first quarter valued at approximately $3,203,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Applied Materials in the first quarter valued at approximately $465,000. Hedge funds and other institutional investors own 79.67% of the company’s stock.
AMAT has been the topic of several analyst reports. B. Riley restated a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a research note on Sunday, July 16th. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price target on the stock in a research note on Monday, July 24th. Cowen and Company restated a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a research note on Friday, July 28th. BidaskClub lowered shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Applied Materials currently has an average rating of “Buy” and a consensus price target of $56.64.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was 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. Company insiders own 0.31% of the company’s stock.
Applied Materials, Inc. (NASDAQ AMAT) opened at $56.36 on Friday. Applied Materials, Inc. has a 52 week low of $28.24 and a 52 week high of $57.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.91 and a quick ratio of 2.25. The company has a market cap of $60,107.21, a P/E ratio of 18.91, a P/E/G ratio of 0.90 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the business posted $0.50 EPS. The company’s revenue was up 32.7% on a year-over-year basis. analysts forecast that Applied Materials, Inc. will post 3.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is 14.18%.
Applied Materials Company Profile
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