Today, 19,835 Shares of Applied Materials Inc. (AMAT) are sold by Gulf International Bank UK Ltd

Today, 19,835 Shares of Applied Materials Inc. (AMAT) are sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its stake in Applied Materials Inc. (NASDAQ:AMAT) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 331,523 shares of the manufacturing equipment provider’s stock after selling 19,835 shares during the period. Gulf International Bank UK Ltd’s holdings in Applied Materials were worth $9,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Applied Materials by 342.2% in the first quarter. Renaissance Technologies LLC now owns 647,548 shares of the manufacturing equipment provider’s stock valued at $13,715,000 after buying an additional 501,100 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Applied Materials by 72.9% in the first quarter. Panagora Asset Management Inc. now owns 375,492 shares of the manufacturing equipment provider’s stock valued at $7,953,000 after buying an additional 158,269 shares in the last quarter. Babson Capital Management LLC purchased a new position in shares of Applied Materials during the first quarter valued at about $913,000. First Republic Investment Management Inc. increased its position in shares of Applied Materials by 107.9% in the first quarter. First Republic Investment Management Inc. now owns 39,216 shares of the manufacturing equipment provider’s stock valued at $830,000 after buying an additional 20,352 shares in the last quarter. Finally, BlueMountain Capital Management LLC increased its position in shares of Applied Materials by 115.7% in the first quarter. BlueMountain Capital Management LLC now owns 16,826 shares of the manufacturing equipment provider’s stock valued at $356,000 after buying an additional 9,027 shares in the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Applied Materials Inc. (NASDAQ:AMAT) traded down 0.13% during midday trading on Monday, hitting $31.84. 8,358,364 shares of the stock traded hands. Applied Materials Inc. has a 52-week low of $15.44 and a 52-week high of $32.16. The firm has a market cap of $34.42 billion, a PE ratio of 20.68 and a beta of 1.86. The stock has a 50-day moving average of $29.22 and a 200 day moving average of $26.97.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The company earned $3.30 billion during the quarter, compared to analyst estimates of $3.31 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. The firm’s revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. Equities analysts forecast that Applied Materials Inc. will post $2.35 EPS for the current 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. This represents a $0.40 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s payout ratio is presently 25.64%.

AMAT has been the topic of several analyst reports. Citigroup Inc. upped their target price on shares of Applied Materials from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. Credit Suisse Group AG increased their price objective on shares of Applied Materials from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. B. Riley increased their price objective on shares of Applied Materials from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. Stifel Nicolaus increased their price objective on shares of Applied Materials from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Finally, DA Davidson restated a “buy” rating and set a $32.00 price objective (up previously from $28.00) on shares of Applied Materials in a research report on Tuesday, August 16th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.95.

In other news, insider Gary E. Dickerson sold 229,935 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Omkaram Nalamasu sold 99,491 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was 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.

About Applied Materials

Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.

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