Mediolanum International Funds Ltd Reduces Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mediolanum International Funds Ltd cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 410,281 shares of the manufacturing equipment provider’s stock after selling 6,494 shares during the quarter. Applied Materials makes up approximately 1.1% of Mediolanum International Funds Ltd’s holdings, making the stock its 17th largest holding. Mediolanum International Funds Ltd’s holdings in Applied Materials were worth $83,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials during the 1st quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials during the 2nd quarter worth approximately $28,000. Clean Yield Group purchased a new stake in Applied Materials during the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank increased its holdings in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Trading Up 2.6 %

Shares of NASDAQ:AMAT traded up $4.81 during midday trading on Friday, reaching $188.56. The company had a trading volume of 957,262 shares, compared to its average volume of 6,072,975. 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, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The firm has a market cap of $156.12 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. The company has a fifty day simple moving average of $194.71 and a two-hundred day simple moving average of $208.75.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data 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. The firm 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%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 EPS. Research analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMAT shares. Susquehanna lowered their price target on Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Morgan Stanley lowered their price target on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. UBS Group lowered their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a report on Friday, August 16th. Finally, Wells Fargo & Company lowered their price target on Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.