Sycomore Asset Management Has $12.65 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Sycomore Asset Management reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 14.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,505 shares of the manufacturing equipment provider’s stock after selling 8,963 shares during the period. Applied Materials comprises approximately 2.2% of Sycomore Asset Management’s investment portfolio, making the stock its 13th largest position. Sycomore Asset Management’s holdings in Applied Materials were worth $12,654,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMAT. Swedbank AB acquired a new position in shares of Applied Materials in the first quarter valued at approximately $773,611,000. Wellington Management Group LLP increased its position in Applied Materials by 3,940.1% in the 4th quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock valued at $352,626,000 after acquiring an additional 2,121,912 shares during the period. Janus Henderson Group PLC raised its stake in shares of Applied Materials by 126.4% during the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after acquiring an additional 1,259,111 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Applied Materials by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock worth $12,012,171,000 after purchasing an additional 973,218 shares during the period. Finally, EdgePoint Investment Group Inc. bought a new stake in shares of Applied Materials in the first quarter worth $162,873,000. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMAT shares. Citigroup lowered their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. B. Riley reduced their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Finally, Mizuho decreased their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.05.

Applied Materials Stock Down 1.4 %

Shares of NASDAQ:AMAT opened at $202.05 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The business’s 50 day simple moving average is $195.19 and its two-hundred day simple moving average is $210.02. The firm has a market cap of $167.29 billion, a P/E ratio of 23.22, a PEG ratio of 2.30 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. Applied Materials’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $1.90 EPS. As a group, research analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is presently 18.39%.

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.