PFG Investments LLC Trims Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

PFG Investments LLC lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,499 shares of the manufacturing equipment provider’s stock after selling 800 shares during the period. PFG Investments LLC’s holdings in Applied Materials were worth $1,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the 1st quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new position in shares of Applied Materials during the second quarter worth $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials during the second quarter valued at $28,000. Clean Yield Group purchased a new stake in Applied Materials in the third quarter valued at $33,000. Finally, First PREMIER Bank grew its position in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT opened at $186.52 on Friday. The business’s 50 day moving average price is $193.72 and its 200-day moving average price is $208.41. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year 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 firm has a market capitalization of $154.43 billion, a PE ratio of 21.44, a P/E/G ratio of 2.66 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (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 analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 earnings per share. As a group, equities research analysts expect that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMAT. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating 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. Mizuho dropped their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Wells Fargo & Company decreased 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, Stifel Nicolaus lowered their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

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.