Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 998,871 shares of the manufacturing equipment provider's stock after selling 140,243 shares during the period. Victory Capital Management Inc. owned 0.12% of Applied Materials worth $162,446,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in Applied Materials in the fourth quarter valued at $28,000. Crews Bank & Trust acquired a new stake in shares of Applied Materials during the fourth quarter worth $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials during the third quarter worth $37,000. YANKCOM Partnership acquired a new stake in shares of Applied Materials during the fourth quarter worth $32,000. Finally, Dunhill Financial LLC raised its holdings in shares of Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock worth $43,000 after purchasing an additional 81 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares of the company's stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMAT shares. Bank of America dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of Applied Materials in a report on Friday, November 15th. Citigroup increased their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Stifel Nicolaus dropped their target price on shares of Applied Materials from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Susquehanna upped their price target on shares of Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Applied Materials currently has a consensus rating of "Moderate Buy" and an average target price of $215.38.

Applied Materials Stock Up 1.6 %

Applied Materials stock opened at $155.32 on Thursday. The stock has a market cap of $126.19 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.81 and a beta of 1.53. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company's 50-day moving average price is $174.50 and its two-hundred day moving average price is $181.78. Applied Materials, Inc. has a 52 week low of $149.55 and a 52 week high of $255.89.

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

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.03%. Applied Materials's dividend payout ratio is currently 20.92%.

About Applied Materials

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.

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