Applied Materials, Inc. (AMAT) Holdings Cut by Renaissance Group LLC

Renaissance Group LLC trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 15.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 760,373 shares of the manufacturing equipment provider’s stock after selling 140,281 shares during the period. Applied Materials makes up approximately 1.4% of Renaissance Group LLC’s investment portfolio, making the stock its 2nd largest position. Renaissance Group LLC owned about 0.07% of Applied Materials worth $39,608,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC acquired a new stake in Applied Materials during the third quarter worth about $105,000. MPS Loria Financial Planners LLC acquired a new stake in Applied Materials during the second quarter worth about $109,000. First Personal Financial Services grew its stake 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 worth $134,000 after buying an additional 1,900 shares in the last quarter. Mosaic Family Wealth LLC grew its stake in Applied Materials by 56.1% during the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 984 shares in the last quarter. Finally, Wunderlich Capital Managemnt grew its stake in Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Shares of Applied Materials, Inc. (AMAT) traded up $1.06 during mid-day trading on Tuesday, hitting $58.68. 6,015,600 shares of the stock traded hands, compared to its average volume of 9,885,488. The firm has a market cap of $62,500.00, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. Applied Materials, Inc. has a one year low of $29.85 and a one year high of $60.89. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. equities analysts expect that Applied Materials, Inc. will post 3.86 EPS for the current year.

The business also recently disclosed 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. This represents a $0.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 12.62%.

A number of research firms have recently commented on AMAT. Vetr raised shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price for the company in a report on Thursday, August 10th. Zacks Investment Research cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Stifel Nicolaus reissued a “buy” rating and issued a $61.00 target price (up previously from $55.00) on shares of Applied Materials in a report on Friday, August 18th. Credit Suisse Group increased their target price on shares of Applied Materials from $5.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Finally, B. Riley reissued a “buy” rating and issued a $61.00 target price on shares of Applied Materials in a report on Saturday, August 19th. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.79.

In other news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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About Applied Materials

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

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