Global Strategic Investment Solutions LLC Sells 60 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

by · The Cerbat Gem

Global Strategic Investment Solutions LLC cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,850 shares of the manufacturing equipment provider’s stock after selling 60 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in Applied Materials were worth $576,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials in the 2nd quarter valued at $28,000. Clean Yield Group acquired a new position in Applied Materials during the 3rd quarter worth $33,000. First PREMIER Bank boosted its holdings in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Applied Materials in the first quarter valued at about $35,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Trading Up 2.4 %

NASDAQ:AMAT traded up $4.41 during mid-day trading on Thursday, hitting $191.93. The company had a trading volume of 1,122,506 shares, compared to its average volume of 6,045,123. The firm has a market cap of $158.23 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.24 and a beta of 1.56. Applied Materials, Inc. has a fifty-two week low of $141.61 and a fifty-two week high of $255.89. The business’s fifty day moving average is $191.07 and its two-hundred day moving average is $207.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts expect that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Announces Dividend

The business 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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMAT. Citigroup lowered their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Tuesday, October 8th. B. Riley reduced their target price on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Susquehanna lowered their price target on Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

Check Out Our Latest Stock Analysis on Applied Materials

Applied Materials Company Profile

(Free Report)

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.

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