Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Probity Advisors Inc.

Probity Advisors Inc. decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,395 shares of the manufacturing equipment provider’s stock after selling 124 shares during the quarter. Probity Advisors Inc.’s holdings in Applied Materials were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Kowal Investment Group LLC lifted its position in Applied Materials by 22.0% during the third quarter. Kowal Investment Group LLC now owns 4,867 shares of the manufacturing equipment provider’s stock worth $983,000 after buying an additional 877 shares during the period. Beech Hill Advisors Inc. grew its position in Applied Materials by 5.5% during the third quarter. Beech Hill Advisors Inc. now owns 36,065 shares of the manufacturing equipment provider’s stock valued at $7,287,000 after acquiring an additional 1,875 shares during the period. Rheos Capital Works Inc. raised its holdings in Applied Materials by 35.1% in the third quarter. Rheos Capital Works Inc. now owns 165,600 shares of the manufacturing equipment provider’s stock valued at $33,459,000 after buying an additional 43,000 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Applied Materials during the 3rd quarter valued at $400,000. Finally, AAFMAA Wealth Management & Trust LLC increased its holdings in Applied Materials by 30.5% in the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 10,241 shares of the manufacturing equipment provider’s stock valued at $2,069,000 after purchasing an additional 2,394 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Susquehanna lowered their price target on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Mizuho cut their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. 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, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Applied Materials 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

Applied Materials Trading Up 3.1 %

NASDAQ AMAT opened at $190.30 on Thursday. The firm has a market capitalization of $157.56 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The company has a 50-day simple moving average of $195.86 and a 200-day simple moving average of $209.55. 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) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. Applied Materials’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 forecast that Applied Materials, Inc. will post 8.49 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. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 18.39%.

Applied Materials Profile

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.