Cornerstone Capital Management Holdings LLC. Sells 193,311 Shares of Applied Materials, Inc. (AMAT)

Cornerstone Capital Management Holdings LLC. decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 25.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 577,876 shares of the manufacturing equipment provider’s stock after selling 193,311 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.05% of Applied Materials worth $30,100,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. NGAM Advisors L.P. boosted its holdings in shares of Applied Materials by 2.4% during the second quarter. NGAM Advisors L.P. now owns 71,523 shares of the manufacturing equipment provider’s stock worth $2,955,000 after purchasing an additional 1,643 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after acquiring an additional 1,817 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in Applied Materials by 18.0% in the second quarter. Egerton Capital UK LLP now owns 13,734,934 shares of the manufacturing equipment provider’s stock valued at $567,390,000 after acquiring an additional 2,092,326 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Applied Materials by 12.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 649,552 shares of the manufacturing equipment provider’s stock valued at $26,834,000 after acquiring an additional 71,423 shares during the last quarter. Finally, Korea Investment CORP boosted its holdings in Applied Materials by 0.7% in the second quarter. Korea Investment CORP now owns 2,727,580 shares of the manufacturing equipment provider’s stock valued at $112,676,000 after acquiring an additional 19,585 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at $51.43 on Friday. Applied Materials, Inc. has a 52-week low of $31.66 and a 52-week high of $60.89. The stock has a market capitalization of $54,401.50, a PE ratio of 15.69, a PEG ratio of 0.97 and a beta of 1.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. Applied Materials’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. research analysts predict that Applied Materials, Inc. will post 3.96 EPS for the current year.

In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of Applied Materials stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

AMAT has been the topic of a number of research analyst reports. B. Riley reiterated a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a report on Monday, August 14th. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 target price on shares of Applied Materials in a report on Monday, August 14th. Credit Suisse Group lifted their target price on Applied Materials from $5.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $61.00 target price (up previously from $55.00) on shares of Applied Materials in a report on Friday, August 18th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and an average price target of $61.15.

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Applied Materials Profile

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

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