Applied Materials, Inc. $AMAT Stake Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 78.9% during the third quarter, Holdings Channel.com reports. The fund owned 76,348 shares of the manufacturing equipment provider’s stock after purchasing an additional 33,668 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Applied Materials were worth $39,043,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMAT. State Street Corp lifted its position in shares of Applied Materials by 85.4% during the second quarter. State Street Corp now owns 69,525,842 shares of the manufacturing equipment provider’s stock valued at $50,267,184,000 after purchasing an additional 32,018,892 shares in the last quarter. Bank of America Corp DE bought a new stake in Applied Materials in the 2nd quarter worth about $5,252,863,000. Jupiter Topco LLC purchased a new stake in Applied Materials in the 2nd quarter valued at about $1,512,287,000. Amundi increased its stake in Applied Materials by 19.0% in the 2nd quarter. Amundi now owns 7,808,207 shares of the manufacturing equipment provider’s stock valued at $5,645,344,000 after buying an additional 1,246,876 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Applied Materials by 1.6% in the 2nd quarter. BlackRock Inc. now owns 80,212,518 shares of the manufacturing equipment provider’s stock valued at $57,993,650,000 after buying an additional 1,237,685 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

NASDAQ AMAT opened at $395.08 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.20. The company has a market cap of $313.54 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 0.73 and a beta of 1.67. Applied Materials, Inc. has a 52 week low of $203.40 and a 52 week high of $739.67. The firm’s 50-day simple moving average is $440.37 and its two-hundred day simple moving average is $445.52.

Applied Materials (NASDAQ:AMAT) last posted its earnings results 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. Applied Materials had a net margin of 30.05% and a return on equity of 38.02%. The firm had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter last year, the company earned $2.48 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Research analysts predict that Applied Materials, Inc. will post 12.79 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $2.12 annualized dividend and a yield of 0.5%. Applied Materials’s dividend payout ratio (DPR) is currently 18.28%.

Insider Activity

In related news, Director Judy Bruner sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $465.00, for a total value of $465,000.00. Following the completion of the transaction, the director directly owned 25,544 shares in the company, valued at approximately $11,877,960. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice Hill sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $479.25, for a total value of $3,594,375.00. Following the completion of the sale, the chief financial officer owned 128,613 shares of the company’s stock, valued at $61,637,780.25. The trade was a 5.51% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,225 shares of company stock worth $4,454,181. 0.30% of the stock is currently owned by insiders.

Applied Materials News Roundup

Here’s some of the latest news about AMAT:

• Neutral Sentiment: Options activity points to expectations of a potentially large post-earnings move, signaling heightened uncertainty rather than a clear directional bet. Article: Ahead of Applied Materials Earnings, What Barchart Data Says
• 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

Analysts Set New Price Targets

AMAT has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Applied Materials in a report on Wednesday, October 14th. Wall Street Zen upgraded Applied Materials from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Applied Materials in a research report on Tuesday, October 20th. Seaport Research Partners reissued a “buy” rating and issued a $575.00 price objective (up from $500.00) on shares of Applied Materials in a research report on Friday, August 14th. Finally, TD Cowen restated a “buy” rating and issued a $700.00 price objective on shares of Applied Materials in a research note on Friday, August 14th. Thirty investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.76.

Applied Materials 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.