Fifth Third Bancorp increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 1.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 762,794 shares of the manufacturing equipment provider’s stock after purchasing an additional 9,360 shares during the period. Applied Materials accounts for 0.6% of Fifth Third Bancorp’s holdings, making the stock its 29th biggest holding. Fifth Third Bancorp’s holdings in Applied Materials were worth $390,078,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AMAT. Harborfront Financial Group LLC purchased a new stake in Applied Materials during the second quarter worth $27,000. Orion Capital Management LLC bought a new stake in Applied Materials during the 2nd quarter valued at $33,000. Highland Investment Advisors LLC bought a new stake in Applied Materials during the 2nd quarter valued at $33,000. BOK Financial Private Wealth Inc. bought a new stake in Applied Materials during the 2nd quarter valued at $41,000. Finally, Curry Webb Wealth Management LLC purchased a new position in shares of Applied Materials in the 3rd quarter valued at $30,000. 80.56% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Applied Materials
Investors following AMAT have been watching these stories:
- Positive Sentiment: Chip-equipment stocks are rebounding ahead of Applied Materials’ earnings, with investors watching for signs that AI investment is translating into stronger equipment orders. A broader sector recovery is providing support for AMAT. Article: Applied Materials Rallies Ahead of Earnings as Chip Stocks Rebound
- Negative Sentiment: Analyst valuation views have cooled: one fair-value estimate was trimmed, and B. Riley lowered its price target substantially to $475, although it still sees potential upside from the current level. Margin caution and uncertainty around China demand remain risks. Article: Applied Materials Stock Gets Fair Value Trim As Margin Caution Offsets AI Demand Article: B. Riley Cut Its Applied Materials Target to $475
- Negative Sentiment: Technical analysis has highlighted a possible “death cross” and a longer-term downtrend, which could weigh on sentiment if earnings or guidance disappoint. Article: Applied Materials Stock Death Cross Pattern Nears Ahead of Earnings
Analysts Set New Price Targets
Several research firms have recently commented on AMAT. Needham & Company LLC reduced their price target on Applied Materials from $740.00 to $580.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Mizuho decreased their price objective on Applied Materials from $650.00 to $590.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th. JPMorgan Chase & Co. raised their price objective on Applied Materials from $515.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. B. Riley Financial cut their target price on Applied Materials from $700.00 to $475.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Applied Materials in a report on Tuesday, October 20th. Thirty equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $625.76.
Check Out Our Latest Stock Analysis on AMAT
Applied Materials Price Performance
NASDAQ AMAT opened at $395.08 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.42 and a quick ratio of 1.79. The stock’s fifty day moving average price is $440.37 and its 200 day moving average price is $445.52. The company has a market cap of $313.54 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 0.73 and a beta of 1.67. Applied Materials, Inc. has a 1 year low of $203.40 and a 1 year high of $739.67.
Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The manufacturing equipment provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.10. Applied Materials had a return on equity of 38.02% and a net margin of 30.05%. The business had revenue of $9.12 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the prior year, the company earned $2.48 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. As a group, equities research analysts forecast that Applied Materials, Inc. will post 12.79 earnings per share for the current year.
Applied Materials Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.5%. Applied Materials’s payout ratio is 18.28%.
Insider Buying and Selling
In related news, Director Judy Bruner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $465.00, for a total value of $465,000.00. Following the sale, the director owned 25,544 shares in the company, valued at $11,877,960. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam Sanders sold 725 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $544.56, for a total transaction of $394,806.00. Following the completion of the transaction, the chief accounting officer owned 3,181 shares in the company, valued at approximately $1,732,245.36. This trade represents a 18.56% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 9,225 shares of company stock valued at $4,454,181 over the last quarter. 0.30% of the stock is currently owned by company insiders.
Applied Materials Company Profile
Applied Materials, Inc. develops and supplies equipment, software and services used to manufacture semiconductors and advanced displays. Its technologies help customers build and process materials at the microscopic scale required for chips and other electronic products. The company’s offerings include systems for depositing, removing and modifying materials, as well as inspection, measurement and process-control tools. It also provides equipment and services for advanced semiconductor packaging and supports customers with maintenance, upgrades and manufacturing software.
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