Audent Global Asset Management LLC Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Audent Global Asset Management LLC lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 51.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,770 shares of the manufacturing equipment provider’s stock after selling 7,138 shares during the period. Applied Materials makes up approximately 2.3% of Audent Global Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Audent Global Asset Management LLC’s holdings in Applied Materials were worth $1,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp grew its holdings in Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock valued at $1,327,707,000 after purchasing an additional 1,509,439 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Applied Materials by 262.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after acquiring an additional 1,006,937 shares in the last quarter. Alkeon Capital Management LLC lifted its position in Applied Materials by 87.7% during the third quarter. Alkeon Capital Management LLC now owns 1,877,133 shares of the manufacturing equipment provider’s stock worth $379,275,000 after buying an additional 877,133 shares during the period. FMR LLC lifted its position in Applied Materials by 5.5% during the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock worth $3,316,269,000 after buying an additional 858,122 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Applied Materials by 62.6% during the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock worth $343,138,000 after buying an additional 653,739 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Up 2.0 %

Shares of AMAT stock opened at $174.71 on Monday. The firm has a 50 day moving average price of $188.11 and a two-hundred day moving average price of $204.41. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $144.03 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.56. Applied Materials, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. As a group, analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup lowered their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Sanford C. Bernstein cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday. Bank of America cut their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Wells Fargo & Company cut their target price on Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $221.48.

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.