Candriam S.C.A. Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Candriam S.C.A. cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,304 shares of the manufacturing equipment provider’s stock after selling 13,141 shares during the period. Candriam S.C.A.’s holdings in Applied Materials were worth $73,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. grew its stake in shares of Applied Materials by 341.0% during the third quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock valued at $577,288,000 after buying an additional 2,209,218 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Applied Materials by 67.8% during the third quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock valued at $942,187,000 after buying an additional 1,884,153 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $182,962,000. Alecta Tjanstepension Omsesidigt bought a new position in Applied Materials in the fourth quarter worth approximately $157,426,000. Finally, Flossbach Von Storch SE grew its stake in Applied Materials by 126.6% in the fourth quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock worth $260,221,000 after purchasing an additional 893,995 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT opened at $155.32 on Thursday. The business’s 50-day moving average is $174.50 and its two-hundred day moving average is $181.78. The company has a market capitalization of $126.19 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.81 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a fifty-two week low of $149.55 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 20.92%.

Analyst Upgrades and Downgrades

AMAT has been the topic of several research analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Bank of America lowered their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, November 15th. The Goldman Sachs Group lowered their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Friday, November 15th. Finally, Citigroup upped their target price on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.