Renaissance Group LLC Sells 68,630 Shares of Applied Materials, Inc. (AMAT)

Renaissance Group LLC cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 691,743 shares of the manufacturing equipment provider’s stock after selling 68,630 shares during the period. Applied Materials makes up 1.2% of Renaissance Group LLC’s investment portfolio, making the stock its 27th biggest holding. Renaissance Group LLC’s holdings in Applied Materials were worth $35,362,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LeJeune Puetz Investment Counsel LLC bought a new stake in Applied Materials during the third quarter valued at about $105,000. Cerebellum GP LLC bought a new stake in Applied Materials during the fourth quarter valued at about $122,000. MPS Loria Financial Planners LLC bought a new stake in Applied Materials during the second quarter valued at about $109,000. First Personal Financial Services boosted its holdings in Applied Materials by 281.5% during the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after acquiring an additional 1,900 shares during the period. Finally, Zions Bancorporation boosted its holdings in Applied Materials by 349.1% during the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after acquiring an additional 2,049 shares during the period. Institutional investors own 80.07% of the company’s stock.

In other Applied Materials news, VP Omkaram Nalamasu sold 53,466 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total value of $2,833,698.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Insiders have sold 312,716 shares of company stock worth $16,218,746 over the last three months. 0.35% of the stock is owned by insiders.

A number of equities research analysts have issued reports on AMAT shares. UBS Group upgraded shares of Applied Materials from a “neutral” rating to a “positive” rating in a report on Tuesday, January 16th. Needham & Company LLC upped their price objective on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a research report on Friday, November 17th. Susquehanna Bancshares raised shares of Applied Materials from a “neutral” rating to a “positive” rating and upped their price objective for the company from $60.00 to $72.00 in a research report on Tuesday, January 16th. Zacks Investment Research lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, ValuEngine raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.56.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at $45.75 on Friday. The firm has a market cap of $48,200.00, a P/E ratio of 14.43, a PEG ratio of 0.95 and a beta of 1.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. Applied Materials, Inc. has a fifty-two week low of $34.58 and a fifty-two week high of $60.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. equities research analysts forecast that Applied Materials, Inc. will post 4.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio (DPR) is currently 12.62%.

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About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

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

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