Applied Materials, Inc. (NASDAQ:AMAT) Position Lowered by Norris Perne & French LLP MI

by · The Markets Daily

Norris Perne & French LLP MI cut its position in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,405 shares of the manufacturing equipment provider’s stock after selling 4,864 shares during the period. Applied Materials accounts for 2.7% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 6th largest holding. Norris Perne & French LLP MI’s holdings in Applied Materials were worth $38,673,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of Applied Materials in the 3rd quarter valued at $144,000. United Asset Strategies Inc. grew its position in shares of Applied Materials by 2.6% in the 3rd quarter. United Asset Strategies Inc. now owns 12,294 shares of the manufacturing equipment provider’s stock valued at $2,484,000 after buying an additional 315 shares during the last quarter. HM Payson & Co. boosted its stake in Applied Materials by 10.5% during the 3rd quarter. HM Payson & Co. now owns 10,315 shares of the manufacturing equipment provider’s stock worth $2,084,000 after purchasing an additional 984 shares during the period. Meitav Investment House Ltd. boosted its stake in Applied Materials by 20.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 9,752 shares of the manufacturing equipment provider’s stock worth $1,884,000 after purchasing an additional 1,672 shares during the period. Finally, Vinland Capital Management Gestora de Recursos LTDA. acquired a new stake in Applied Materials during the 3rd quarter worth $837,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Stifel Nicolaus decreased their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Tuesday, October 8th. Wells Fargo & Company reduced their target price on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Mizuho reduced their target price 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. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and an average price target of $229.14.

View Our Latest Research Report on AMAT

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $181.58 on Friday. The company has a market cap of $149.69 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 2.53 and a beta of 1.54. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The company has a 50-day simple moving average of $192.04 and a 200-day simple moving average of $207.74.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. On average, equities analysts anticipate that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. Applied Materials’s payout ratio is 17.98%.

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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