Applied Materials, Inc. $AMAT Stock: Maryland State Retirement & Pension System Grows Stake

Maryland State Retirement & Pension System increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 78.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,348 shares of the manufacturing equipment provider’s stock after buying an additional 33,668 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Applied Materials were worth $39,043,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Ausdal Financial Partners Inc. acquired a new stake in Applied Materials during the second quarter valued at $4,005,000. Caldwell Investment Management Ltd. bought a new position in Applied Materials in the 2nd quarter worth $1,589,000. CX Institutional increased its stake in shares of Applied Materials by 333.3% in the third quarter. CX Institutional now owns 25,853 shares of the manufacturing equipment provider’s stock worth $12,631,000 after purchasing an additional 19,886 shares during the period. Principal Financial Group Inc. increased its position in Applied Materials by 3.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,008,591 shares of the manufacturing equipment provider’s stock worth $729,211,000 after buying an additional 28,982 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in Applied Materials by 29.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 462,685 shares of the manufacturing equipment provider’s stock valued at $334,521,000 after purchasing an additional 105,776 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMAT has been the topic of several analyst reports. B. Riley Financial lowered their price target on shares of Applied Materials from $700.00 to $475.00 and set a “buy” rating on the stock in a report on Monday. Citigroup reaffirmed a “buy” rating and issued a $710.00 target price (up from $550.00) on shares of Applied Materials in a research note on Monday, August 3rd. TD Cowen reaffirmed a “buy” rating and set a $700.00 price target on shares of Applied Materials in a research note on Friday, August 14th. Seaport Research Partners restated a “buy” rating and issued a $575.00 price objective (up from $500.00) on shares of Applied Materials in a report on Friday, August 14th. Finally, Needham & Company LLC reduced their price objective on shares of Applied Materials from $740.00 to $580.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Thirty investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $625.76.

Applied Materials Price Performance

Shares of AMAT opened at $395.08 on Thursday. The firm has a market capitalization of $313.54 billion, a PE ratio of 34.06, a PEG ratio of 0.73 and a beta of 1.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.42 and a quick ratio of 1.79. Applied Materials, Inc. has a fifty-two week low of $203.40 and a fifty-two week high of $739.67. The company’s 50-day moving average is $440.37 and its 200-day moving average is $445.52.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 13th. The manufacturing equipment provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.10. The business had revenue of $9.12 billion during the quarter, compared to analysts’ expectations of $8.99 billion. Applied Materials had a net margin of 30.05% and a return on equity of 38.02%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.48 EPS. Equities analysts forecast that Applied Materials, Inc. will post 12.79 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.5%. Applied Materials’s dividend payout ratio is 18.28%.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 725 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $544.56, for a total transaction of $394,806.00. Following the sale, the chief accounting officer directly owned 3,181 shares in the company, valued at approximately $1,732,245.36. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Judy Bruner sold 1,000 shares of Applied Materials stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $465.00, for a total value of $465,000.00. Following the transaction, the director directly owned 25,544 shares in the company, valued at $11,877,960. The trade was a 3.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,225 shares of company stock worth $4,454,181 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

More Applied Materials News

Investors following AMAT have been watching these news items:

• Positive Sentiment: Chip-equipment stocks are rebounding ahead of Applied Materials’ earnings, with investors watching for signs that AI investment is translating into stronger equipment orders. A broader sector recovery is providing support for AMAT. Article: Applied Materials Rallies Ahead of Earnings as Chip Stocks Rebound
• Negative Sentiment: Analyst valuation views have cooled: one fair-value estimate was trimmed, and B. Riley lowered its price target substantially to $475, although it still sees potential upside from the current level. Margin caution and uncertainty around China demand remain risks. Article: Applied Materials Stock Gets Fair Value Trim As Margin Caution Offsets AI Demand Article: B. Riley Cut Its Applied Materials Target to $475
• Negative Sentiment: Technical analysis has highlighted a possible “death cross” and a longer-term downtrend, which could weigh on sentiment if earnings or guidance disappoint. Article: Applied Materials Stock Death Cross Pattern Nears Ahead of Earnings

Applied Materials Company Profile

Applied Materials, Inc. develops and supplies equipment, software and services used to manufacture semiconductors and advanced displays. Its technologies help customers build and process materials at the microscopic scale required for chips and other electronic products. The company’s offerings include systems for depositing, removing and modifying materials, as well as inspection, measurement and process-control tools. It also provides equipment and services for advanced semiconductor packaging and supports customers with maintenance, upgrades and manufacturing software.