Norway Savings Bank Makes New Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Norway Savings Bank purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 500 shares of the manufacturing equipment provider’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMAT. BlackRock Inc. lifted its holdings in Applied Materials by 5.8% during the 2nd quarter. BlackRock Inc. now owns 72,115,670 shares of the manufacturing equipment provider’s stock worth $4,359,392,000 after buying an additional 3,925,501 shares during the last quarter. FIL Ltd lifted its holdings in Applied Materials by 163.6% during the 2nd quarter. FIL Ltd now owns 2,492,060 shares of the manufacturing equipment provider’s stock worth $150,645,000 after buying an additional 1,546,627 shares during the last quarter. Cantillon Capital Management LLC lifted its holdings in Applied Materials by 62.7% during the 2nd quarter. Cantillon Capital Management LLC now owns 3,968,872 shares of the manufacturing equipment provider’s stock worth $239,919,000 after buying an additional 1,529,635 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Applied Materials by 215.7% during the 2nd quarter. Nordea Investment Management AB now owns 1,732,520 shares of the manufacturing equipment provider’s stock worth $104,316,000 after buying an additional 1,183,653 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Applied Materials by 15.1% during the 2nd quarter. LSV Asset Management now owns 6,600,619 shares of the manufacturing equipment provider’s stock worth $399,007,000 after buying an additional 867,117 shares during the last quarter. 79.23% of the stock is owned by institutional investors.

AMAT stock opened at $63.00 on Friday. Applied Materials, Inc. has a 1 year low of $36.64 and a 1 year high of $69.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.94 and a current ratio of 2.86. The stock’s 50 day moving average price is $59.62 and its 200 day moving average price is $57.91. The firm has a market cap of $57.54 billion, a P/E ratio of 18.31, a PEG ratio of 1.26 and a beta of 1.29.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 13th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm posted $0.74 EPS. On average, research analysts predict that Applied Materials, Inc. will post 4.07 earnings per share 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 $0.22 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.88 annualized dividend and a yield of 1.40%. Applied Materials’s dividend payout ratio (DPR) is presently 28.95%.

A number of brokerages have issued reports on AMAT. Craig Hallum lifted their price target on Applied Materials from $79.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Stifel Nicolaus boosted their price target on Applied Materials from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 14th. DA Davidson boosted their price target on Applied Materials from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Finally, 140166 boosted their price target on Applied Materials from $74.00 to $85.00 in a research note on Friday, August 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $73.29.

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

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