Applied Materials, Inc. (AMAT) Shares Sold by Korea Investment CORP

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Korea Investment CORP cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 24.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 710,977 shares of the manufacturing equipment provider’s stock after selling 230,400 shares during the quarter. Korea Investment CORP’s holdings in Applied Materials were worth $32,840,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMAT. BlackRock Inc. grew its stake in Applied Materials by 10.5% in the 1st quarter. BlackRock Inc. now owns 76,112,124 shares of the manufacturing equipment provider’s stock valued at $4,232,597,000 after buying an additional 7,222,175 shares during the last quarter. Winslow Capital Management LLC grew its stake in Applied Materials by 2,586,194.2% in the 1st quarter. Winslow Capital Management LLC now owns 3,129,416 shares of the manufacturing equipment provider’s stock valued at $174,027,000 after buying an additional 3,129,295 shares during the last quarter. American Century Companies Inc. grew its stake in Applied Materials by 25.8% in the 2nd quarter. American Century Companies Inc. now owns 13,874,509 shares of the manufacturing equipment provider’s stock valued at $640,864,000 after buying an additional 2,844,738 shares during the last quarter. Fred Alger Management Inc. grew its stake in Applied Materials by 34.4% in the 2nd quarter. Fred Alger Management Inc. now owns 6,835,353 shares of the manufacturing equipment provider’s stock valued at $315,725,000 after buying an additional 1,751,306 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its stake in Applied Materials by 22.6% in the 1st quarter. OppenheimerFunds Inc. now owns 8,151,015 shares of the manufacturing equipment provider’s stock valued at $453,279,000 after buying an additional 1,501,992 shares during the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

NASDAQ AMAT opened at $42.62 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 1.67 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 0.75 and a beta of 1.54. Applied Materials, Inc. has a 52-week low of $42.04 and a 52-week high of $62.40.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.42 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. research analysts forecast that Applied Materials, Inc. will post 4.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 23rd will be given a $0.20 dividend. The ex-dividend date is Wednesday, August 22nd. This represents a $0.80 annualized dividend and a yield of 1.88%. Applied Materials’s dividend payout ratio is 24.62%.

AMAT has been the topic of a number of research analyst reports. ValuEngine lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $50.00 target price on shares of Applied Materials in a research note on Friday, August 17th. Susquehanna Bancshares lowered their target price on shares of Applied Materials from $73.00 to $65.00 and set a “positive” rating on the stock in a research note on Monday, July 9th. Needham & Company LLC lowered their target price on shares of Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Monday, May 21st. Finally, Citigroup lowered their target price on shares of Applied Materials from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $61.84.

About Applied Materials

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.

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

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