Renaissance Technologies LLC Acquires 2,545,964 Shares of Applied Materials, Inc. (AMAT)

Renaissance Technologies LLC lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 576.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,987,712 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,545,964 shares during the quarter. Renaissance Technologies LLC owned 0.30% of Applied Materials worth $115,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rational Advisors LLC increased its holdings in shares of Applied Materials by 5,102.0% during the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock worth $120,000 after purchasing an additional 2,551 shares during the period. ELM Advisors LLC bought a new position in shares of Applied Materials during the third quarter worth approximately $157,000. Amussen Hunsaker Associates LLC bought a new position in shares of Applied Materials during the second quarter worth approximately $162,000. LFA Lugano Financial Advisors SA bought a new position in shares of Applied Materials during the second quarter worth approximately $177,000. Finally, Freestone Capital Holdings LLC bought a new position in shares of Applied Materials during the third quarter worth approximately $200,000. 76.29% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the stock. Wells Fargo & Co decreased their price objective on shares of Applied Materials from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 17th. Stifel Nicolaus decreased their price objective on shares of Applied Materials from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. KeyCorp decreased their price objective on shares of Applied Materials from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, August 17th. Citigroup decreased their price objective on shares of Applied Materials from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Finally, Deutsche Bank decreased their price objective on shares of Applied Materials from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $52.14.

NASDAQ AMAT opened at $33.64 on Friday. The firm has a market cap of $34.10 billion, a price-to-earnings ratio of 7.56, a P/E/G ratio of 1.14 and a beta of 1.66. Applied Materials, Inc. has a fifty-two week low of $30.53 and a fifty-two week high of $62.40. The company has a current ratio of 2.64, a quick ratio of 1.73 and a debt-to-equity ratio of 0.78.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4 billion. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. As a group, sell-side analysts predict that Applied Materials, Inc. will post 3.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 21st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.38%. Applied Materials’s payout ratio is presently 17.98%.

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About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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

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