Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Neo Ivy Capital Management

Neo Ivy Capital Management reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 73.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,738 shares of the manufacturing equipment provider’s stock after selling 10,212 shares during the quarter. Neo Ivy Capital Management’s holdings in Applied Materials were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Applied Materials by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 20,079,451 shares of the manufacturing equipment provider’s stock valued at $3,260,178,000 after acquiring an additional 253,078 shares during the period. Northern Trust Corp lifted its holdings in shares of Applied Materials by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider’s stock worth $1,663,780,000 after purchasing an additional 1,602,645 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Applied Materials by 7.6% during the fourth quarter. Alliancebernstein L.P. now owns 8,338,520 shares of the manufacturing equipment provider’s stock worth $1,356,094,000 after purchasing an additional 587,036 shares during the period. Deutsche Bank AG lifted its holdings in shares of Applied Materials by 8.9% during the fourth quarter. Deutsche Bank AG now owns 5,954,305 shares of the manufacturing equipment provider’s stock worth $968,349,000 after purchasing an additional 484,133 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Applied Materials by 37.0% during the fourth quarter. EdgePoint Investment Group Inc. now owns 3,913,942 shares of the manufacturing equipment provider’s stock worth $636,524,000 after purchasing an additional 1,056,787 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMAT. JPMorgan Chase & Co. decreased their price target on Applied Materials from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Jefferies Financial Group upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Friday, March 28th. Citigroup boosted their price target on shares of Applied Materials from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Raymond James Financial reiterated an “outperform” rating and set a $200.00 price target (down from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Finally, Mizuho boosted their price target on shares of Applied Materials from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $204.74.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Trading Down 1.3%

Applied Materials stock opened at $185.69 on Friday. The stock has a market cap of $149.02 billion, a PE ratio of 22.59, a P/E/G ratio of 2.09 and a beta of 1.69. The stock has a 50-day moving average price of $177.59 and a 200 day moving average price of $166.59. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $215.70. 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 posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. Equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio is presently 22.38%.

About Applied Materials

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.