State of Michigan Retirement System Has $11.08 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

State of Michigan Retirement System lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,109 shares of the manufacturing equipment provider’s stock after selling 2,000 shares during the quarter. State of Michigan Retirement System’s holdings in Applied Materials were worth $11,083,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. JNBA Financial Advisors boosted its position in Applied Materials by 0.8% during the 2nd quarter. JNBA Financial Advisors now owns 24,070 shares of the manufacturing equipment provider’s stock worth $1,081,000 after acquiring an additional 200 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Applied Materials by 3.9% in the 3rd quarter. Park Avenue Securities LLC now owns 6,564 shares of the manufacturing equipment provider’s stock valued at $328,000 after buying an additional 244 shares during the last quarter. Hartford Financial Management Inc. boosted its holdings in shares of Applied Materials by 0.6% in the 2nd quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock valued at $1,926,000 after buying an additional 248 shares during the last quarter. ETRADE Capital Management LLC boosted its holdings in shares of Applied Materials by 3.3% in the 2nd quarter. ETRADE Capital Management LLC now owns 7,725 shares of the manufacturing equipment provider’s stock valued at $347,000 after buying an additional 248 shares during the last quarter. Finally, Pennsylvania Trust Co boosted its holdings in shares of Applied Materials by 4.0% in the 3rd quarter. Pennsylvania Trust Co now owns 7,187 shares of the manufacturing equipment provider’s stock valued at $359,000 after buying an additional 276 shares during the last quarter. 78.90% of the stock is owned by hedge funds and other institutional investors.

AMAT opened at $50.53 on Thursday. Applied Materials, Inc. has a 1-year low of $28.79 and a 1-year high of $53.25. The stock’s fifty day simple moving average is $50.93 and its 200 day simple moving average is $45.94. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The stock has a market cap of $48.02 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 3.46 and a beta of 1.65.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. Equities analysts forecast that Applied Materials, Inc. will post 3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, November 20th. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.

AMAT has been the subject of several recent analyst reports. Citigroup increased their price objective on Applied Materials from $54.00 to $62.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Co reissued a “positive” rating and issued a $58.00 price objective (up previously from $52.00) on shares of Applied Materials in a report on Wednesday, September 18th. Goldman Sachs Group downgraded Applied Materials from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Needham & Company LLC increased their price objective on Applied Materials from $52.00 to $56.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Nomura set a $40.00 price objective on Applied Materials and gave the company a “hold” rating in a report on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $52.10.

In other Applied Materials news, Director Dennis D. Powell sold 25,218 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $51.44, for a total transaction of $1,297,213.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Steve G. Ghanayem sold 25,727 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total value of $1,340,891.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,945 shares of company stock worth $2,776,105. 0.44% of the stock is owned by company insiders.

Applied Materials 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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