Vestmark Advisory Solutions Inc. trimmed its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.9% during the third quarter, Holdings Channel reports. The firm owned 6,786 shares of the manufacturing equipment provider’s stock after selling 350 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Applied Materials were worth $339,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAT. Northwest Investment Counselors LLC acquired a new stake in Applied Materials during the third quarter valued at approximately $29,000. Sandy Spring Bank boosted its holdings in Applied Materials by 57.4% during the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock valued at $35,000 after purchasing an additional 287 shares in the last quarter. Next Capital Management LLC acquired a new stake in Applied Materials during the second quarter valued at approximately $35,000. Coastal Capital Group Inc. acquired a new stake in Applied Materials during the second quarter valued at approximately $36,000. Finally, Horan Capital Advisors LLC. acquired a new position in shares of Applied Materials in the 3rd quarter worth approximately $39,000. 78.95% of the stock is currently owned by institutional investors.
In related news, SVP Steve G. Ghanayem sold 25,727 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis D. Powell sold 25,218 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $51.44, for a total transaction of $1,297,213.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,945 shares of company stock valued at $2,776,105. Company insiders own 0.44% of the company’s stock.
Several brokerages have recently commented on AMAT. Royal Bank of Canada boosted their target price on Applied Materials from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday. B. Riley began coverage on Applied Materials in a report on Friday. They issued a “buy” rating and a $71.00 target price on the stock. BidaskClub raised Applied Materials from a “buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Needham & Company LLC boosted their target price on Applied Materials from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Friday. Finally, ValuEngine downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $60.68.
Shares of AMAT traded up $5.73 during trading hours on Friday, reaching $62.69. The stock had a trading volume of 1,541,542 shares, compared to its average volume of 6,446,871. 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, Inc. has a 52 week low of $28.79 and a 52 week high of $57.38. The firm has a 50-day moving average of $53.05 and a 200 day moving average of $47.24. The company has a market cap of $52.12 billion, a P/E ratio of 14.12, a P/E/G ratio of 3.43 and a beta of 1.66.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.04. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts expect that Applied Materials, Inc. will post 3 earnings per share for the current year.
The firm also recently disclosed 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. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Applied Materials’s dividend payout ratio is 18.88%.
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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