Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Plimoth Trust Co. LLC

by · The Cerbat Gem

Plimoth Trust Co. LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,229 shares of the manufacturing equipment provider’s stock after purchasing an additional 510 shares during the period. Applied Materials makes up approximately 1.8% of Plimoth Trust Co. LLC’s holdings, making the stock its 9th largest holding. Plimoth Trust Co. LLC’s holdings in Applied Materials were worth $7,118,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in 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 valued at $15,469,028,000 after purchasing an additional 891,446 shares during the period. Lazard Asset Management LLC grew its stake in shares of Applied Materials by 10.4% in the first quarter. Lazard Asset Management LLC now owns 5,189,202 shares of the manufacturing equipment provider’s stock valued at $1,070,167,000 after buying an additional 490,597 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 buying an additional 81,151 shares during the period. Van ECK Associates Corp lifted its position in Applied Materials by 9.5% during the 2nd quarter. Van ECK Associates Corp now owns 5,061,739 shares of the manufacturing equipment provider’s stock worth $1,194,520,000 after acquiring an additional 438,691 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Applied Materials by 2.6% in the 3rd quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider’s stock worth $857,615,000 after acquiring an additional 108,827 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT traded down $1.90 during trading hours on Monday, reaching $184.46. The company’s stock had a trading volume of 4,890,898 shares, compared to its average volume of 6,094,734. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $195.61 and a 200 day simple moving average of $209.24. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The stock has a market cap of $152.73 billion, a PE ratio of 21.29, a PEG ratio of 2.66 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the business posted $1.90 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMAT. B. Riley dropped their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Susquehanna dropped their price target 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. UBS Group decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company dropped their target price on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price target on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and an average target price of $229.14.

Check Out Our Latest Analysis on Applied Materials

Applied Materials 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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