Carmignac Gestion Sells 30,375 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Carmignac Gestion cut its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 68.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,812 shares of the manufacturing equipment provider’s stock after selling 30,375 shares during the period. Carmignac Gestion’s holdings in Applied Materials were worth $2,239,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMAT. Atlantic Edge Private Wealth Management LLC acquired a new position in Applied Materials during the 4th quarter worth $27,000. DSM Capital Partners LLC acquired a new position in Applied Materials during the 4th quarter worth $37,000. L2 Asset Management LLC lifted its position in Applied Materials by 795.0% during the 3rd quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock worth $41,000 after acquiring an additional 26,298 shares during the last quarter. First United Bank & Trust acquired a new position in shares of Applied Materials during the fourth quarter valued at about $45,000. Finally, Tompkins Financial Corp acquired a new position in shares of Applied Materials during the fourth quarter valued at about $49,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMAT has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Susquehanna upped their target price on shares of Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. upped their price objective on shares of Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Applied Materials in a research note on Thursday, April 11th. They set a “hold” rating and a $225.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average target price of $215.64.

Get Our Latest Stock Analysis on Applied Materials

Applied Materials Stock Down 0.9 %

Applied Materials stock traded down $1.99 during mid-day trading on Tuesday, reaching $212.22. The company’s stock had a trading volume of 4,378,889 shares, compared to its average volume of 5,804,772. The company has a market capitalization of $175.71 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 2.81 and a beta of 1.56. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $225.07. The business’s 50 day simple moving average is $207.96 and its 200 day simple moving average is $185.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $2.00 EPS. As a group, research analysts anticipate that Applied Materials, Inc. will post 8.32 earnings per share for the current year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a $0.40 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a yield of 0.75%. Applied Materials’s payout ratio is 18.39%.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the completion of the sale, the senior vice president now owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the sale, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

About Applied Materials

(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.

Read More

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

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.