Wedge Capital Management L L P NC Acquires 33,243 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Wedge Capital Management L L P NC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 488,379 shares of the manufacturing equipment provider’s stock after acquiring an additional 33,243 shares during the period. Applied Materials accounts for 0.8% of Wedge Capital Management L L P NC’s portfolio, making the stock its 26th largest holding. Wedge Capital Management L L P NC owned about 0.05% of Applied Materials worth $62,869,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AMAT. Vanguard Group Inc. grew its holdings in Applied Materials by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 73,525,390 shares of the manufacturing equipment provider’s stock worth $10,470,015,000 after acquiring an additional 190,682 shares during the period. FMR LLC grew its holdings in Applied Materials by 13.6% during the 2nd quarter. FMR LLC now owns 21,693,309 shares of the manufacturing equipment provider’s stock worth $3,089,127,000 after acquiring an additional 2,593,318 shares during the period. Capital International Investors grew its holdings in Applied Materials by 5.8% during the 2nd quarter. Capital International Investors now owns 18,742,933 shares of the manufacturing equipment provider’s stock worth $2,668,988,000 after acquiring an additional 1,022,540 shares during the period. Geode Capital Management LLC grew its holdings in Applied Materials by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 14,995,325 shares of the manufacturing equipment provider’s stock worth $2,129,606,000 after acquiring an additional 358,338 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Applied Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,325,733 shares of the manufacturing equipment provider’s stock worth $2,039,982,000 after acquiring an additional 362,435 shares during the period. Institutional investors own 76.72% of the company’s stock.

A number of research firms have commented on AMAT. Evercore ISI reaffirmed a “buy” rating and set a $185.00 target price on shares of Applied Materials in a report on Friday, November 19th. Cowen lifted their price target on shares of Applied Materials from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Morgan Stanley lifted their price target on shares of Applied Materials from $139.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, August 20th. Bank of America lifted their price target on shares of Applied Materials from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, November 19th. Finally, Credit Suisse Group lifted their price target on shares of Applied Materials from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $159.14.

NASDAQ:AMAT traded up $0.33 on Thursday, hitting $149.01. 6,185,926 shares of the company’s stock were exchanged, compared to its average volume of 8,250,205. The firm has a 50-day moving average price of $139.68 and a 200-day moving average price of $136.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.54 and a quick ratio of 1.86. Applied Materials, Inc. has a 52 week low of $80.71 and a 52 week high of $159.00. The company has a market cap of $134.55 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.41.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.01). The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.34 billion. Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, research analysts expect that Applied Materials, Inc. will post 7.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Friday, November 26th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 24th. This represents a $0.96 dividend on an annualized basis and a yield of 0.64%. Applied Materials’s dividend payout ratio (DPR) is currently 14.98%.

In other Applied Materials news, CFO Daniel Durn sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $134.59, for a total transaction of $672,950.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ginetto Addiego sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $134.83, for a total transaction of $5,393,200.00. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

Applied Materials Profile

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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