Sycomore Asset Management Sells 32,253 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Sycomore Asset Management decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 59.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,252 shares of the manufacturing equipment provider’s stock after selling 32,253 shares during the quarter. Sycomore Asset Management’s holdings in Applied Materials were worth $4,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AMAT. Sargent Investment Group LLC boosted its holdings in Applied Materials by 4.0% during the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock valued at $286,000 after acquiring an additional 55 shares during the period. Lifeworks Advisors LLC lifted its holdings in shares of Applied Materials by 20.2% in the 3rd quarter. Lifeworks Advisors LLC now owns 9,664 shares of the manufacturing equipment provider’s stock worth $1,953,000 after buying an additional 1,621 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Applied Materials by 3.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,055 shares of the manufacturing equipment provider’s stock worth $4,658,000 after buying an additional 770 shares during the period. Black Swift Group LLC purchased a new stake in shares of Applied Materials in the 3rd quarter worth $505,000. Finally, Metis Global Partners LLC lifted its holdings in shares of Applied Materials by 1.3% in the 3rd quarter. Metis Global Partners LLC now owns 43,877 shares of the manufacturing equipment provider’s stock worth $8,865,000 after buying an additional 543 shares during the period. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMAT shares. JPMorgan Chase & Co. upped their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Wells Fargo & Company dropped their price objective on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. B. Riley reduced their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Morgan Stanley dropped their price objective on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $227.24.

Applied Materials Price Performance

AMAT stock traded up $2.72 during trading on Thursday, reaching $185.51. 3,264,865 shares of the company were exchanged, compared to its average volume of 6,052,460. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials, Inc. has a twelve month low of $141.94 and a twelve month high of $255.89. The company has a 50-day moving average of $190.88 and a two-hundred day moving average of $207.13. The company has a market capitalization of $152.94 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.29 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. Applied Materials’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Applied Materials, Inc. will post 8.51 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Applied Materials’s payout ratio is 17.98%.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.