Kornitzer Capital Management Inc. KS Sells 900 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Kornitzer Capital Management Inc. KS lessened its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 20.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,515 shares of the manufacturing equipment provider’s stock after selling 900 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Applied Materials were worth $830,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMAT. Norges Bank bought a new position in Applied Materials during the fourth quarter worth $1,514,814,000. Swedbank AB bought a new position in Applied Materials during the first quarter worth $773,611,000. Wellington Management Group LLP grew its holdings in Applied Materials by 3,940.1% in the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after purchasing an additional 2,121,912 shares during the period. Janus Henderson Group PLC grew its holdings in Applied Materials by 126.4% in the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after purchasing an additional 1,259,111 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Applied Materials by 123.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,976,914 shares of the manufacturing equipment provider’s stock worth $407,699,000 after purchasing an additional 1,092,429 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 3.0 %

Shares of NASDAQ AMAT opened at $174.75 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The firm has a market capitalization of $144.69 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.35 and a beta of 1.56. The firm has a fifty day simple moving average of $209.96 and a two-hundred day simple moving average of $211.12.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 EPS. Equities analysts expect that Applied Materials, Inc. will post 8.47 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Stifel Nicolaus reduced their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 16th. UBS Group reduced their price objective on shares of Applied Materials from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Wells Fargo & Company lifted their price objective on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, June 17th. B. Riley reduced their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Susquehanna lifted their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.14.

Insider Activity at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the sale, the director now directly owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the sale, the insider now owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the sale, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Applied Materials Profile

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.