Applied Materials, Inc. (NASDAQ:AMAT) Stake Decreased by Mengis Capital Management Inc.

Mengis Capital Management Inc. reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,008 shares of the manufacturing equipment provider’s stock after selling 650 shares during the period. Mengis Capital Management Inc.’s holdings in Applied Materials were worth $417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. California Public Employees Retirement System grew its holdings in shares of Applied Materials by 0.3% during the 3rd quarter. California Public Employees Retirement System now owns 2,161,556 shares of the manufacturing equipment provider’s stock valued at $299,267,000 after acquiring an additional 6,466 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Applied Materials by 9.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 830,038 shares of the manufacturing equipment provider’s stock valued at $114,919,000 after purchasing an additional 69,388 shares during the last quarter. New England Research & Management Inc. acquired a new stake in shares of Applied Materials in the 3rd quarter valued at $433,000. Claro Advisors LLC lifted its stake in shares of Applied Materials by 8.3% in the 2nd quarter. Claro Advisors LLC now owns 5,370 shares of the manufacturing equipment provider’s stock valued at $776,000 after purchasing an additional 411 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Applied Materials by 26.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,068,445 shares of the manufacturing equipment provider’s stock valued at $147,926,000 after purchasing an additional 223,984 shares during the last quarter. 77.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMAT shares. B. Riley boosted their target price on shares of Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday. Redburn Atlantic raised shares of Applied Materials from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a research report on Wednesday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of Applied Materials from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Applied Materials in a research report on Friday, November 17th. Finally, Raymond James upped their price objective on shares of Applied Materials from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.50.

Check Out Our Latest Analysis on AMAT

Insider Transactions at Applied Materials

In related news, SVP Omkaram Nalamasu sold 23,228 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $162.45, for a total value of $3,773,388.60. Following the completion of the transaction, the senior vice president now owns 190,972 shares of the company’s stock, valued at $31,023,401.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Applied Materials Price Performance

Shares of AMAT stock traded down $0.30 during trading hours on Monday, reaching $185.54. 7,010,418 shares of the company were exchanged, compared to its average volume of 6,366,142. Applied Materials, Inc. has a fifty-two week low of $109.00 and a fifty-two week high of $188.21. The stock’s fifty day moving average is $160.18 and its two-hundred day moving average is $149.49. The company has a market cap of $154.38 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 3.67 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.60 and a quick ratio of 1.82.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.14. Applied Materials had a net margin of 25.85% and a return on equity of 46.12%. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period in the prior year, the business earned $2.03 earnings per share. Applied Materials’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Applied Materials, Inc. will post 7.61 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, February 21st. Applied Materials’s dividend payout ratio is 15.78%.

Applied Materials Profile

(Free Report)

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.

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

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