Applied Materials (NASDAQ:AMAT) Position Trimmed by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lowered its holdings in shares of Applied Materials (NASDAQ:AMAT) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,721,156 shares of the manufacturing equipment provider’s stock after selling 181,572 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.35% of Applied Materials worth $206,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Applied Materials by 1.8% in the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock valued at $3,521,655,000 after buying an additional 1,248,388 shares in the last quarter. Geode Capital Management LLC lifted its stake in Applied Materials by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 12,968,458 shares of the manufacturing equipment provider’s stock valued at $661,743,000 after acquiring an additional 234,528 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Applied Materials by 10.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock valued at $568,507,000 after acquiring an additional 1,033,700 shares during the period. Lansdowne Partners UK LLP acquired a new stake in Applied Materials during the 4th quarter valued at approximately $370,984,000. Finally, LSV Asset Management lifted its stake in Applied Materials by 5.4% during the 1st quarter. LSV Asset Management now owns 6,764,046 shares of the manufacturing equipment provider’s stock valued at $376,148,000 after acquiring an additional 344,000 shares during the period. Institutional investors and hedge funds own 78.49% of the company’s stock.

In other news, Director Thomas J. Iannotti sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total value of $922,050.00. Following the completion of the sale, the director now directly owns 76,967 shares in the company, valued at approximately $4,731,161.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.



Several research firms have recently weighed in on AMAT. B. Riley cut their target price on shares of Applied Materials from $77.00 to $70.00 and set a “buy” rating for the company in a report on Friday. Stifel Nicolaus lifted their target price on shares of Applied Materials from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank set a $65.00 target price on shares of Applied Materials and gave the stock a “buy” rating in a research note on Friday. Craig Hallum reissued a “buy” rating and set a $65.00 price target (down previously from $76.00) on shares of Applied Materials in a research report on Friday. They noted that the move was a valuation call. Finally, Goldman Sachs cut shares of Applied Materials from a “buy” rating to a “neutral” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.72.

Shares of NASDAQ AMAT traded down $4.84 during midday trading on Friday, hitting $49.12. The stock had a trading volume of 2,015,911 shares, compared to its average volume of 14,225,605. The firm has a market capitalization of $57.97 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.94 and a beta of 1.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25. Applied Materials has a 1-year low of $54.26 and a 1-year high of $55.46.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 17th. The manufacturing equipment provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company posted $0.79 EPS. equities research analysts expect that Applied Materials will post 4.41 EPS for the current fiscal year.

Applied Materials declared that its board has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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

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