New York State Teachers Retirement System Reduces Position in Applied Materials, Inc. (AMAT)

New York State Teachers Retirement System decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,403,031 shares of the manufacturing equipment provider’s stock after selling 17,883 shares during the quarter. New York State Teachers Retirement System’s holdings in Applied Materials were worth $55,644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Applied Materials by 13.6% in the fourth quarter. Bank of New York Mellon Corp now owns 23,108,959 shares of the manufacturing equipment provider’s stock worth $756,588,000 after buying an additional 2,772,739 shares during the last quarter. FMR LLC lifted its holdings in Applied Materials by 52.1% during the fourth quarter. FMR LLC now owns 22,370,392 shares of the manufacturing equipment provider’s stock valued at $732,406,000 after purchasing an additional 7,664,767 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Applied Materials by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after purchasing an additional 794,347 shares in the last quarter. Norges Bank purchased a new position in Applied Materials during the fourth quarter valued at approximately $407,503,000. Finally, Northern Trust Corp lifted its holdings in Applied Materials by 3.5% during the fourth quarter. Northern Trust Corp now owns 12,008,825 shares of the manufacturing equipment provider’s stock valued at $393,169,000 after purchasing an additional 405,659 shares in the last quarter. 78.26% of the stock is currently owned by institutional investors.

AMAT stock traded down $0.17 during mid-day trading on Thursday, reaching $41.33. 169,725 shares of the stock traded hands, compared to its average volume of 10,286,231. The company has a quick ratio of 1.74, a current ratio of 2.72 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a one year low of $28.79 and a one year high of $55.46. The stock has a market capitalization of $37.11 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.64 and a beta of 1.66.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.02. Applied Materials had a net margin of 23.50% and a return on equity of 58.28%. The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the business posted $1.06 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year. As a group, equities research analysts expect that Applied Materials, Inc. will post 2.94 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.21 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.84 dividend on an annualized basis and a yield of 2.03%. Applied Materials’s payout ratio is 17.98%.

In other Applied Materials news, insider Omkaram Nalamasu sold 143,255 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $40.73, for a total transaction of $5,834,776.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Steve G. Ghanayem sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total transaction of $1,067,500.00. The disclosure for this sale can be found here. Insiders have sold 170,255 shares of company stock worth $6,987,176 in the last quarter. Company insiders own 0.44% of the company’s stock.

AMAT has been the topic of several recent analyst reports. BidaskClub cut shares of Applied Materials from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Zacks Investment Research upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. ValuEngine upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Susquehanna Bancshares upgraded shares of Applied Materials from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $34.00 to $60.00 in a research report on Wednesday. Finally, Argus reiterated a “buy” rating on shares of Applied Materials in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $51.00.

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Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is 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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