Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Naviter Wealth LLC

by · The Cerbat Gem

Naviter Wealth LLC reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,640 shares of the manufacturing equipment provider’s stock after selling 92 shares during the period. Naviter Wealth LLC’s holdings in Applied Materials were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Applied Materials in the 1st quarter valued at approximately $773,611,000. Janus Henderson Group PLC increased its stake in Applied Materials by 126.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after purchasing an additional 1,259,111 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Applied Materials by 1.2% in the first quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock worth $15,469,028,000 after buying an additional 891,446 shares during the last quarter. EdgePoint Investment Group Inc. acquired a new stake in shares of Applied Materials during the first quarter worth $162,873,000. Finally, Van ECK Associates Corp grew its holdings in shares of Applied Materials by 20.4% during the first quarter. Van ECK Associates Corp now owns 4,623,048 shares of the manufacturing equipment provider’s stock valued at $953,411,000 after buying an additional 784,780 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Trading Down 0.7 %

Shares of NASDAQ:AMAT opened at $183.24 on Friday. The business’s 50 day moving average price is $195.71 and its 200-day moving average price is $209.36. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The firm has a market capitalization of $151.72 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (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 business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMAT. JPMorgan Chase & Co. lifted their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Dbs Bank downgraded Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Morgan Stanley cut their price target on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Mizuho decreased their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, Susquehanna cut their price objective on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $229.14.

Get Our Latest Research Report on AMAT

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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