Victory Capital Management Inc. Has $162.45 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Victory Capital Management Inc. trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 12.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 998,871 shares of the manufacturing equipment provider’s stock after selling 140,243 shares during the period. Victory Capital Management Inc.’s holdings in Applied Materials were worth $162,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB boosted its holdings in shares of Applied Materials by 2.6% during the third quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider’s stock worth $857,615,000 after purchasing an additional 108,827 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of Applied Materials by 11.5% during the third quarter. Moloney Securities Asset Management LLC now owns 6,969 shares of the manufacturing equipment provider’s stock worth $1,408,000 after purchasing an additional 720 shares during the period. United Advisor Group LLC boosted its holdings in shares of Applied Materials by 47.6% during the third quarter. United Advisor Group LLC now owns 2,501 shares of the manufacturing equipment provider’s stock worth $505,000 after purchasing an additional 807 shares during the period. Crescent Grove Advisors LLC acquired a new stake in shares of Applied Materials during the third quarter worth approximately $326,000. Finally, Avidian Wealth Enterprises LLC boosted its holdings in shares of Applied Materials by 7.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 1,942 shares of the manufacturing equipment provider’s stock worth $392,000 after purchasing an additional 130 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

NASDAQ AMAT opened at $155.32 on Thursday. The business has a 50 day simple moving average of $174.50 and a 200 day simple moving average of $181.78. Applied Materials, Inc. has a 52-week low of $149.55 and a 52-week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The stock has a market cap of $126.19 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.81 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is currently 20.92%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. TD Cowen decreased their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. Wells Fargo & Company cut their price objective on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research report on Friday, January 17th. Finally, Stifel Nicolaus cut their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

Applied Materials Company 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.