Norway Savings Bank bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 500 shares of the manufacturing equipment provider’s stock, valued at approximately $30,000.
A number of other hedge funds have also bought and sold shares of the business. Avantax Advisory Services Inc. increased its stake in Applied Materials by 257.7% during the third quarter. Avantax Advisory Services Inc. now owns 22,908 shares of the manufacturing equipment provider’s stock worth $1,360,000 after acquiring an additional 16,503 shares during the last quarter. Cornell Pochily Investment Advisors Inc. acquired a new stake in Applied Materials during the third quarter worth $214,000. DNB Asset Management AS increased its stake in Applied Materials by 7.7% during the third quarter. DNB Asset Management AS now owns 127,445 shares of the manufacturing equipment provider’s stock worth $7,577,000 after acquiring an additional 9,144 shares during the last quarter. Old North State Trust LLC acquired a new stake in Applied Materials during the third quarter worth $37,000. Finally, 10 15 Associates Inc. acquired a new stake in Applied Materials during the third quarter worth $11,732,000. 79.23% of the stock is owned by institutional investors.
AMAT has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Applied Materials from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Morgan Stanley raised their price target on Applied Materials from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. KeyCorp raised their price target on Applied Materials from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, B. Riley raised their price target on Applied Materials from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.29.
NASDAQ:AMAT opened at $63.00 on Friday. The firm has a market cap of $57.54 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. The stock has a fifty day moving average price of $59.62 and a 200 day moving average price of $57.91. Applied Materials, Inc. has a 12-month low of $36.64 and a 12-month high of $69.90. The company has a current ratio of 2.86, a quick ratio of 1.94 and a debt-to-equity ratio of 0.57.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 13th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.20 billion. Applied Materials had a return on equity of 38.81% and a net margin of 19.58%. During the same period in the previous year, the business earned $0.74 EPS. Equities analysts forecast that Applied Materials, Inc. will post 4.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 18th. Applied Materials’s dividend payout ratio (DPR) is 28.95%.
About Applied Materials
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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