Curi RMB Capital LLC Sells 436 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Curi RMB Capital LLC lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 68,609 shares of the manufacturing equipment provider’s stock after selling 436 shares during the period. Curi RMB Capital LLC’s holdings in Applied Materials were worth $13,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Applied Materials during the 2nd quarter valued at approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials during the second quarter valued at approximately $28,000. Clean Yield Group bought a new stake in shares of Applied Materials during the 3rd quarter valued at $33,000. First PREMIER Bank raised its holdings in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Applied Materials during the first quarter valued at about $35,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Price Performance

AMAT opened at $182.79 on Thursday. The company has a market capitalization of $150.69 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.29 and a beta of 1.56. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12-month low of $141.94 and a 12-month high of $255.89. The business’s fifty day simple moving average is $190.88 and its 200-day simple moving average is $207.13.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS. On average, equities research analysts anticipate that Applied Materials, Inc. will post 8.51 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. Applied Materials’s dividend payout ratio is presently 17.98%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Morgan Stanley decreased their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Finally, Mizuho cut their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.24.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.