SWS Partners Sells 610 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

SWS Partners trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,490 shares of the manufacturing equipment provider’s stock after selling 610 shares during the quarter. SWS Partners’ holdings in Applied Materials were worth $1,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. First National Bank of Mount Dora Trust Investment Services acquired a new stake in Applied Materials in the first quarter valued at approximately $1,764,000. GAMMA Investing LLC boosted its position in Applied Materials by 89.3% in the second quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after buying an additional 4,239 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Applied Materials by 5.7% in the second quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after buying an additional 126 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Applied Materials by 5.4% during the first quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock worth $699,000 after purchasing an additional 172 shares during the period. Finally, Calton & Associates Inc. acquired a new position in shares of Applied Materials during the first quarter worth $243,000. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMAT shares. Wells Fargo & Company cut their price target on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Citigroup cut their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Morgan Stanley cut their price target on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Stifel Nicolaus lowered their target price 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. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Stock Down 10.3 %

Shares of NASDAQ:AMAT traded down $22.04 during midday trading on Tuesday, hitting $191.85. 11,199,760 shares of the company’s stock were exchanged, compared to its average volume of 6,032,506. 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 stock has a 50 day moving average price of $195.58 and a 200-day moving average price of $209.83. The company has a market cap of $158.85 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 2.66 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.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate 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 net margin of 27.74% and a return on equity of 39.99%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) 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.