Trade Report: Today, Teacher Retirement System of Texas Reduced the position of Applied Materials Inc. (AMAT)

Today, Teacher Retirement System of Texas Reduced the position of Applied Materials Inc. (AMAT)

Teacher Retirement System of Texas cut its position in shares of Applied Materials Inc. (NASDAQ:AMAT) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,151,425 shares of the manufacturing equipment provider’s stock after selling 84,071 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Applied Materials worth $34,715,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in Applied Materials by 303.8% in the second quarter. Huntington National Bank now owns 429,025 shares of the manufacturing equipment provider’s stock worth $10,284,000 after buying an additional 322,784 shares during the last quarter. Raymond James Trust N.A. boosted its position in Applied Materials by 2.0% in the third quarter. Raymond James Trust N.A. now owns 168,652 shares of the manufacturing equipment provider’s stock worth $5,084,000 after buying an additional 3,281 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Applied Materials by 602.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 421,389 shares of the manufacturing equipment provider’s stock worth $10,100,000 after buying an additional 361,392 shares during the last quarter. Columbus Circle Investors boosted its position in Applied Materials by 8.7% in the second quarter. Columbus Circle Investors now owns 883,295 shares of the manufacturing equipment provider’s stock worth $21,173,000 after buying an additional 70,472 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Applied Materials by 46.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 446,035 shares of the manufacturing equipment provider’s stock worth $10,691,000 after buying an additional 141,814 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

Applied Materials Inc. (NASDAQ:AMAT) remained flat at $31.88 during midday trading on Friday. 4,684,686 shares of the company’s stock traded hands. Applied Materials Inc. has a 52-week low of $15.44 and a 52-week high of $31.97. The company’s 50 day moving average is $29.16 and its 200 day moving average is $26.89. The firm has a market cap of $34.46 billion, a price-to-earnings ratio of 20.70 and a beta of 1.86.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. Applied Materials’s revenue was up 39.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. Equities analysts anticipate that Applied Materials Inc. will post $2.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. Applied Materials’s dividend payout ratio (DPR) is presently 25.64%.

A number of research firms have issued reports on AMAT. Vetr cut Applied Materials from a “strong-buy” rating to a “buy” rating and set a $35.25 target price for the company. in a research note on Tuesday. B. Riley reaffirmed a “buy” rating and set a $38.00 price objective on shares of Applied Materials in a research report on Wednesday. Cowen and Company reaffirmed an “outperform” rating and set a $32.50 price objective on shares of Applied Materials in a research report on Friday, November 18th. Bank of America Corp. set a $35.00 price objective on Applied Materials and gave the stock a “buy” rating in a research report on Saturday, November 19th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $33.00 price objective on shares of Applied Materials in a research report on Friday, November 18th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Applied Materials has an average rating of “Buy” and a consensus price target of $31.95.

In other Applied Materials news, insider Gary E. Dickerson sold 229,935 shares of the business’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $29.71, for a total transaction of $6,831,368.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Omkaram Nalamasu sold 99,491 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $30.15, for a total transaction of $2,999,653.65. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Applied Materials Company Profile

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