Applied Materials, Inc. $AMAT Stock: Fifth Third Bancorp Raises Stake

Fifth Third Bancorp boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 762,794 shares of the manufacturing equipment provider’s stock after buying an additional 9,360 shares during the quarter. Applied Materials accounts for approximately 0.6% of Fifth Third Bancorp’s investment portfolio, making the stock its 29th largest position. Fifth Third Bancorp owned 0.10% of Applied Materials worth $390,078,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Applied Materials by 1.6% during the 2nd quarter. BlackRock Inc. now owns 80,212,518 shares of the manufacturing equipment provider’s stock worth $57,993,650,000 after purchasing an additional 1,237,685 shares during the period. State Street Corp raised its position in Applied Materials by 85.4% in the 2nd quarter. State Street Corp now owns 69,525,842 shares of the manufacturing equipment provider’s stock worth $50,267,184,000 after purchasing an additional 32,018,892 shares during the period. Amundi raised its position in Applied Materials by 19.0% in the 2nd quarter. Amundi now owns 7,808,207 shares of the manufacturing equipment provider’s stock worth $5,645,344,000 after purchasing an additional 1,246,876 shares during the period. Van ECK Associates Corp lifted its stake in Applied Materials by 16.2% in the second quarter. Van ECK Associates Corp now owns 7,713,599 shares of the manufacturing equipment provider’s stock worth $5,576,932,000 after purchasing an additional 1,073,879 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Applied Materials in the second quarter worth about $5,252,863,000. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMAT shares. Weiss Ratings lowered Applied Materials from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 9th. William Blair started coverage on Applied Materials in a report on Tuesday, August 11th. They issued a “market perform” rating on the stock. Seaport Research Partners reissued a “buy” rating and set a $575.00 price target (up from $500.00) on shares of Applied Materials in a research note on Friday, August 14th. B. Riley Financial decreased their price target on Applied Materials from $700.00 to $475.00 and set a “buy” rating for the company in a research note on Monday. Finally, Bank of America dropped their price objective on Applied Materials from $720.00 to $650.00 and set a “buy” rating for the company in a report on Friday, August 14th. Thirty investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average price target of $625.76.

Applied Materials Price Performance

Applied Materials stock opened at $395.08 on Thursday. The stock has a market cap of $313.54 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 0.73 and a beta of 1.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.42 and a quick ratio of 1.79. Applied Materials, Inc. has a 1 year low of $203.40 and a 1 year high of $739.67. The firm has a 50-day moving average of $440.37 and a two-hundred day moving average of $445.52.

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

Applied Materials Dividend Announcement

The company 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 $0.53 dividend. The ex-dividend date is Thursday, November 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.5%. Applied Materials’s payout ratio is presently 18.28%.

Insider Buying and Selling

In other Applied Materials news, CFO Brice Hill sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $479.25, for a total transaction of $3,594,375.00. Following the transaction, the chief financial officer directly owned 128,613 shares in the company, valued at $61,637,780.25. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Adam Sanders sold 725 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $544.56, for a total value of $394,806.00. Following the transaction, the chief accounting officer owned 3,181 shares in the company, valued at $1,732,245.36. The trade was a 18.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,225 shares of company stock valued at $4,454,181 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Top Applied Materials Stories

Investors following AMAT have been watching these stories:

• Positive Sentiment: Chip-equipment stocks are rebounding ahead of Applied Materials’ earnings, with investors watching for signs that AI investment is translating into stronger equipment orders. A broader sector recovery is providing support for AMAT. Article: Applied Materials Rallies Ahead of Earnings as Chip Stocks Rebound
• Positive Sentiment: ETF flows were supportive: funds reportedly bought $317.1 million of AMAT on Monday, though this is a single-day snapshot. Article: ETFs Bought $317.1 Million of Applied Materials
• 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

About Applied Materials

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.