VeraBank N.A. purchased a new position in Applied Materials, Inc. (NASDAQ:AMAT) during the third quarter, Holdings Channel reports. The firm purchased 4,262 shares of the manufacturing equipment provider’s stock, valued at approximately $213,000.
Several other hedge funds and other institutional investors also recently modified their holdings of AMAT. Nuveen Asset Management LLC boosted its stake in Applied Materials by 2,914.1% in the second quarter. Nuveen Asset Management LLC now owns 11,359,951 shares of the manufacturing equipment provider’s stock valued at $510,176,000 after buying an additional 10,983,055 shares in the last quarter. Invesco Ltd. boosted its stake in Applied Materials by 72.2% in the second quarter. Invesco Ltd. now owns 25,611,081 shares of the manufacturing equipment provider’s stock valued at $1,150,193,000 after buying an additional 10,735,173 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Applied Materials by 34.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 28,351,337 shares of the manufacturing equipment provider’s stock valued at $1,273,259,000 after buying an additional 7,230,052 shares in the last quarter. Generation Investment Management LLP acquired a new stake in Applied Materials in the second quarter valued at about $204,994,000. Finally, FMR LLC boosted its stake in Applied Materials by 16.3% in the first quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock valued at $1,032,245,000 after buying an additional 3,656,960 shares in the last quarter. Institutional investors own 78.70% of the company’s stock.
Shares of AMAT stock traded up $1.02 during mid-day trading on Friday, reaching $52.03. 465,578 shares of the stock traded hands, compared to its average volume of 6,742,144. The stock’s fifty day simple moving average is $49.55 and its two-hundred day simple moving average is $45.18. Applied Materials, Inc. has a 1-year low of $28.79 and a 1-year high of $52.62. The company has a market cap of $45.55 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 3.29 and a beta of 1.65. The company has a quick ratio of 1.72, a current ratio of 2.65 and a debt-to-equity ratio of 0.65.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. On average, equities research analysts anticipate that Applied Materials, Inc. will post 3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, November 20th. Applied Materials’s payout ratio is 18.88%.
Several research firms recently weighed in on AMAT. Stifel Nicolaus set a $57.00 price objective on Applied Materials and gave the company a “buy” rating in a research note on Monday, August 26th. DA Davidson lowered Applied Materials from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $45.00 in a research note on Monday, July 8th. ValuEngine lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Cowen reaffirmed an “outperform” rating and issued a $55.00 price objective (up from $53.00) on shares of Applied Materials in a research note on Friday, August 16th. Finally, BidaskClub raised Applied Materials from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 4th. Ten analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $52.10.
In other news, Director Dennis D. Powell sold 25,218 shares of Applied Materials stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $51.44, for a total transaction of $1,297,213.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total value of $1,340,891.24. The disclosure for this sale can be found here. Insiders have sold 53,945 shares of company stock worth $2,776,105 over the last three months. Insiders own 0.44% of the company’s stock.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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