California State Teachers Retirement System Reduces Holdings in Applied Materials, Inc. (AMAT)

California State Teachers Retirement System trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,990,044 shares of the manufacturing equipment provider’s stock after selling 199,509 shares during the period. California State Teachers Retirement System owned 0.19% of Applied Materials worth $82,209,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after purchasing an additional 1,817 shares during the period. Hanson McClain Inc. raised its holdings in shares of Applied Materials by 4.3% during the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after purchasing an additional 139 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Applied Materials during the second quarter worth $134,000. First Interstate Bank raised its holdings in shares of Applied Materials by 7.0% during the first quarter. First Interstate Bank now owns 3,528 shares of the manufacturing equipment provider’s stock worth $137,000 after purchasing an additional 232 shares during the period. Finally, D. Scott Neal Inc. acquired a new stake in shares of Applied Materials during the second quarter worth $146,000. 79.48% of the stock is currently owned by institutional investors.

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AMAT has been the topic of a number of research reports. UBS AG reissued a “buy” rating and set a $52.00 target price on shares of Applied Materials in a report on Tuesday, June 13th. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $45.72 target price on the stock in a report on Thursday, June 22nd. Stifel Nicolaus reissued a “buy” rating and set a $55.00 target price on shares of Applied Materials in a report on Thursday, July 6th. Morgan Stanley reissued an “overweight” rating and set a $52.00 target price (up from $47.00) on shares of Applied Materials in a report on Monday, July 10th. Finally, DA Davidson reissued a “buy” rating and set a $55.00 target price on shares of Applied Materials in a report on Monday, July 10th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $56.01.

Applied Materials, Inc. (NASDAQ:AMAT) traded down 1.5940% during trading on Tuesday, hitting $51.8501. 4,165,452 shares of the stock traded hands. The firm’s 50-day moving average is $47.05 and its 200 day moving average is $44.00. The stock has a market cap of $55.30 billion, a P/E ratio of 18.4323 and a beta of 1.86. Applied Materials, Inc. has a 52 week low of $27.56 and a 52 week high of $53.07.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. Equities research analysts forecast that Applied Materials, Inc. will post $3.20 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. Applied Materials’s payout ratio is currently 14.18%.

In other news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Applied Materials Profile

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

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