Applied Materials, Inc. $AMAT Stock: UNIVEST FINANCIAL Corp Reduces Stake

UNIVEST FINANCIAL Corp lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 32,673 shares of the manufacturing equipment provider’s stock after selling 4,941 shares during the period. Applied Materials makes up 0.8% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 23rd biggest holding. UNIVEST FINANCIAL Corp’s holdings in Applied Materials were worth $16,708,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Joel Isaacson & Co. LLC increased its position in shares of Applied Materials by 3.8% during the third quarter. Joel Isaacson & Co. LLC now owns 3,983 shares of the manufacturing equipment provider’s stock valued at $2,037,000 after purchasing an additional 144 shares during the period. Machina Capital S.A.S. bought a new position in Applied Materials in the third quarter worth $789,000. Silver Grove Financial Group Inc. lifted its position in Applied Materials by 14.7% in the third quarter. Silver Grove Financial Group Inc. now owns 1,114 shares of the manufacturing equipment provider’s stock worth $570,000 after purchasing an additional 143 shares during the period. Davis Investment Partners LLC lifted its position in Applied Materials by 145.1% in the third quarter. Davis Investment Partners LLC now owns 745 shares of the manufacturing equipment provider’s stock worth $381,000 after purchasing an additional 441 shares during the period. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in Applied Materials by 9.0% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 6,739 shares of the manufacturing equipment provider’s stock worth $3,446,000 after buying an additional 558 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Latest Applied Materials News

These are some of the AMAT news items that stood out recently:

• Positive Sentiment: Chip-equipment stocks are rebounding ahead of Applied Materials’ earnings, with investors watching for signs that AI investment is translating into stronger equipment orders. A broader sector recovery is providing support for AMAT. Article: Applied Materials Rallies Ahead of Earnings as Chip Stocks Rebound
• Positive Sentiment: ETF flows were supportive: funds reportedly bought $317.1 million of AMAT on Monday, though this is a single-day snapshot. Article: ETFs Bought $317.1 Million of Applied Materials
• Negative Sentiment: Technical analysis has highlighted a possible “death cross” and a longer-term downtrend, which could weigh on sentiment if earnings or guidance disappoint. Article: Applied Materials Stock Death Cross Pattern Nears Ahead of Earnings

Wall Street Analysts Forecast Growth

AMAT has been the topic of several analyst reports. Craig Hallum boosted their price target on shares of Applied Materials from $530.00 to $585.00 and gave the company a “buy” rating in a report on Friday, August 14th. B. Riley Financial dropped their price objective on shares of Applied Materials from $700.00 to $475.00 and set a “buy” rating for the company in a research note on Monday. New Street Research reduced their price objective on shares of Applied Materials from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, August 14th. UBS Group lifted their target price on shares of Applied Materials from $675.00 to $695.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley decreased their target price on shares of Applied Materials from $563.00 to $538.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 3rd. Thirty investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $625.76.

Insider Buying and Selling at Applied Materials

In other news, Director Judy Bruner sold 1,000 shares of Applied Materials stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $465.00, for a total value of $465,000.00. Following the completion of the sale, the director directly owned 25,544 shares of the company’s stock, valued at approximately $11,877,960. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Adam Sanders sold 725 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $544.56, for a total value of $394,806.00. Following the sale, the chief accounting officer owned 3,181 shares of the company’s stock, valued at approximately $1,732,245.36. The trade was a 18.56% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 9,225 shares of company stock worth $4,454,181. Insiders own 0.30% of the company’s stock.

Applied Materials Stock Up 6.1%

Shares of NASDAQ:AMAT opened at $395.08 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.20. The firm has a market cap of $313.54 billion, a P/E ratio of 34.06, a P/E/G ratio of 0.73 and a beta of 1.67. Applied Materials, Inc. has a 12 month low of $203.40 and a 12 month high of $739.67. The company’s 50-day moving average price is $440.37 and its two-hundred day moving average price is $445.52.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 13th. The manufacturing equipment provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.40 by $0.10. Applied Materials had a net margin of 30.05% and a return on equity of 38.02%. The business had revenue of $9.12 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period in the prior year, the firm earned $2.48 earnings per share. Applied Materials’s revenue was up 24.8% compared to the same quarter last year. As a group, research analysts forecast that Applied Materials, Inc. will post 12.79 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, November 19th. Applied Materials’s dividend payout ratio (DPR) is presently 18.28%.

Applied Materials Company Profile

Applied Materials, Inc. develops and supplies equipment, software and services used to manufacture semiconductors and advanced displays. Its technologies help customers build and process materials at the microscopic scale required for chips and other electronic products. The company’s offerings include systems for depositing, removing and modifying materials, as well as inspection, measurement and process-control tools. It also provides equipment and services for advanced semiconductor packaging and supports customers with maintenance, upgrades and manufacturing software.