Pacer Advisors Inc. Trims Holdings in Applied Materials, Inc. (NASDAQ:AMAT)


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Pacer Advisors Inc. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,242 shares of the manufacturing equipment provider’s stock after selling 9,756 shares during the period. Pacer Advisors Inc.’s holdings in Applied Materials were worth $11,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. ExodusPoint Capital Management LP purchased a new position in shares of Applied Materials during the third quarter valued at $315,000. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Applied Materials during the third quarter valued at $448,000. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Applied Materials during the third quarter valued at $492,000. Earnest Partners LLC increased its stake in shares of Applied Materials by 5.9% during the third quarter. Earnest Partners LLC now owns 857,128 shares of the manufacturing equipment provider’s stock valued at $50,956,000 after buying an additional 47,931 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Applied Materials by 196.2% during the third quarter. Point72 Asset Management L.P. now owns 989,597 shares of the manufacturing equipment provider’s stock valued at $58,832,000 after buying an additional 655,463 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

NASDAQ AMAT traded down $0.25 during trading on Thursday, hitting $138.89. The company’s stock had a trading volume of 164,278 shares, compared to its average volume of 9,623,827. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.00 and a quick ratio of 2.12. Applied Materials, Inc. has a fifty-two week low of $46.22 and a fifty-two week high of $146.00. The company has a market cap of $127.45 billion, a PE ratio of 35.49, a P/E/G ratio of 2.06 and a beta of 1.48. The business’s 50 day simple moving average is $120.69 and its 200-day simple moving average is $91.29.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.11. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. The firm had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $4.98 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts expect that Applied Materials, Inc. will post 4.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, May 27th will be issued a dividend of $0.24 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.69%. Applied Materials’s payout ratio is 21.10%.

In related news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total transaction of $1,979,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Several brokerages have recently commented on AMAT. Morgan Stanley raised their price target on Applied Materials from $104.00 to $113.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. The Goldman Sachs Group raised their price target on Applied Materials from $133.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Applied Materials from $88.00 to $146.00 and gave the company an “overweight” rating in a research note on Friday, February 19th. Royal Bank of Canada lifted their target price on Applied Materials from $95.00 to $140.00 in a research note on Friday, February 19th. Finally, Credit Suisse Group lifted their target price on Applied Materials from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $140.36.

About Applied Materials

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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