2,598 Applied Materials, Inc. $AMAT Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,744 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,598 shares during the quarter. King Luther Capital Management Corp’s holdings in Applied Materials were worth $29,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Spectrum Planning & Advisory Services Inc. acquired a new stake in Applied Materials during the 3rd quarter worth about $238,000. Maryland State Retirement & Pension System lifted its stake in Applied Materials by 78.9% during the third quarter. Maryland State Retirement & Pension System now owns 76,348 shares of the manufacturing equipment provider’s stock valued at $39,043,000 after buying an additional 33,668 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Applied Materials by 3.2% during the third quarter. Ritholtz Wealth Management now owns 14,632 shares of the manufacturing equipment provider’s stock valued at $7,483,000 after buying an additional 448 shares in the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of Applied Materials by 3.8% in the third quarter. Joel Isaacson & Co. LLC now owns 3,983 shares of the manufacturing equipment provider’s stock worth $2,037,000 after buying an additional 144 shares during the period. Finally, Machina Capital S.A.S. acquired a new position in shares of Applied Materials in the third quarter worth about $789,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Buying and Selling

In other Applied Materials news, CFO Brice Hill sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $479.25, for a total value of $3,594,375.00. Following the transaction, the chief financial officer owned 128,613 shares in the company, valued at approximately $61,637,780.25. This represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judy Bruner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $465.00, for a total transaction of $465,000.00. Following the completion of the sale, the director owned 25,544 shares of the company’s stock, valued at approximately $11,877,960. The trade was a 3.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 9,225 shares of company stock worth $4,454,181. 0.30% of the stock is owned by company insiders.

Applied Materials Trading Up 6.1%

Shares of NASDAQ AMAT opened at $395.08 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.20. Applied Materials, Inc. has a one year low of $203.40 and a one year high of $739.67. The business has a 50-day moving average price of $440.37 and a two-hundred day moving average price of $445.52. The firm has a market capitalization of $313.54 billion, a PE ratio of 34.06, a PEG ratio of 0.73 and a beta of 1.67.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 13th. The manufacturing equipment provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.10. The company had revenue of $9.12 billion for the quarter, compared to the consensus estimate of $8.99 billion. Applied Materials had a return on equity of 38.02% and a net margin of 30.05%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.48 EPS. As a group, analysts predict that Applied Materials, Inc. will post 12.79 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, November 19th. Applied Materials’s dividend payout ratio (DPR) is currently 18.28%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Argus set a $600.00 target price on shares of Applied Materials and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Evercore set a $590.00 price target on shares of Applied Materials in a research report on Thursday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of Applied Materials from $515.00 to $660.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Applied Materials in a research report on Tuesday, October 20th. Finally, HSBC cut their target price on shares of Applied Materials from $683.00 to $641.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Thirty equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $625.76.

Recent Applied Materials Headlines

These are some of the AMAT headlines that stood out recently:

• Neutral Sentiment: Options activity points to expectations of a potentially large post-earnings move, signaling heightened uncertainty rather than a clear directional bet. Article: Ahead of Applied Materials Earnings, What Barchart Data Says
• Negative Sentiment: Analyst valuation views have cooled: one fair-value estimate was trimmed, and B. Riley lowered its price target substantially to $475, although it still sees potential upside from the current level. Margin caution and uncertainty around China demand remain risks. Article: Applied Materials Stock Gets Fair Value Trim As Margin Caution Offsets AI Demand Article: B. Riley Cut Its Applied Materials Target to $475
• Negative Sentiment: Technical analysis has highlighted a possible “death cross” and a longer-term downtrend, which could weigh on sentiment if earnings or guidance disappoint. Article: Applied Materials Stock Death Cross Pattern Nears Ahead of Earnings

Applied Materials Profile

Applied Materials, Inc. develops and supplies equipment, software and services used to manufacture semiconductors and advanced displays. Its technologies help customers build and process materials at the microscopic scale required for chips and other electronic products. The company’s offerings include systems for depositing, removing and modifying materials, as well as inspection, measurement and process-control tools. It also provides equipment and services for advanced semiconductor packaging and supports customers with maintenance, upgrades and manufacturing software.