Robeco Institutional Asset Management B.V. Sells 85,893 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Robeco Institutional Asset Management B.V. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 11.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 656,296 shares of the manufacturing equipment provider’s stock after selling 85,893 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Applied Materials were worth $95,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AMAT. Norges Bank purchased a new stake in Applied Materials in the 4th quarter worth approximately $1,588,422,000. GAMMA Investing LLC grew its position in Applied Materials by 18,402.1% during the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider’s stock worth $2,647,430,000 after buying an additional 1,814,444 shares in the last quarter. Northern Trust Corp increased its stake in Applied Materials by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider’s stock worth $1,663,780,000 after acquiring an additional 1,602,645 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Applied Materials by 301.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider’s stock valued at $318,754,000 after acquiring an additional 1,471,953 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Applied Materials by 10,767.6% during the 4th quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider’s stock valued at $219,157,000 after acquiring an additional 1,335,180 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 0.2%

Shares of Applied Materials stock opened at $183.52 on Friday. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $255.89. The company has a market cap of $147.27 billion, a P/E ratio of 22.33, a PEG ratio of 2.04 and a beta of 1.67. The company’s fifty day simple moving average is $162.17 and its two-hundred day simple moving average is $163.22. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is 22.38%.

Applied Materials declared that its board has initiated a stock buyback plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMAT. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Friday, March 28th. Stifel Nicolaus lowered their price objective on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Raymond James Financial reiterated an “outperform” rating and issued a $200.00 target price (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Wall Street Zen cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, Mizuho dropped their price target on Applied Materials from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.24.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the transaction, the chief accounting officer now directly owns 5,300 shares in the company, valued at $946,580. The trade was a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This represents a 3.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

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.