Ingalls & Snyder LLC Sells 2,949 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Ingalls & Snyder LLC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,090 shares of the manufacturing equipment provider’s stock after selling 2,949 shares during the period. Ingalls & Snyder LLC’s holdings in Applied Materials were worth $5,474,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMAT. FMR LLC increased its position in Applied Materials by 5.5% during the 3rd quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock valued at $3,316,269,000 after purchasing an additional 858,122 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Applied Materials by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock worth $1,790,554,000 after purchasing an additional 318,445 shares in the last quarter. Van ECK Associates Corp lifted its stake in Applied Materials by 29.8% during the 3rd 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 acquiring an additional 1,509,439 shares during the period. American Century Companies Inc. lifted its stake in Applied Materials by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 5,084,186 shares of the manufacturing equipment provider’s stock valued at $1,199,817,000 after acquiring an additional 81,151 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Applied Materials by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,679,355 shares of the manufacturing equipment provider’s stock valued at $945,464,000 after acquiring an additional 44,928 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMAT. Sanford C. Bernstein cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Friday, November 15th. Susquehanna dropped their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Bank of America lowered their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, TD Cowen decreased their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and a consensus price target of $221.48.

Applied Materials Stock Down 0.6 %

AMAT stock traded down $1.13 during midday trading on Tuesday, reaching $182.14. 545,324 shares of the company were exchanged, compared to its average volume of 6,154,933. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials, Inc. has a 1-year low of $144.57 and a 1-year high of $255.89. The stock’s 50-day simple moving average is $187.90 and its 200 day simple moving average is $204.19. The company has a market cap of $150.16 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.52.

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

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. Applied Materials’s payout ratio is currently 18.58%.

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.