Zevin Asset Management LLC cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,457 shares of the manufacturing equipment provider’s stock after selling 446 shares during the period. Zevin Asset Management LLC’s holdings in Applied Materials were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMAT. Northwest Investment Counselors LLC bought a new position in Applied Materials in the 3rd quarter worth approximately $29,000. Sandy Spring Bank boosted its holdings in Applied Materials by 57.4% in the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after buying an additional 287 shares during the period. Next Capital Management LLC bought a new position in Applied Materials in the 2nd quarter worth approximately $35,000. Coastal Capital Group Inc. bought a new position in Applied Materials in the 2nd quarter worth approximately $36,000. Finally, Horan Capital Advisors LLC. bought a new position in Applied Materials in the 3rd quarter worth approximately $39,000. 79.06% of the stock is owned by institutional investors.
Several research analysts recently commented on AMAT shares. ValuEngine downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Needham & Company LLC raised their price objective on shares of Applied Materials from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Wells Fargo & Co reaffirmed a “positive” rating and issued a $58.00 price objective (up from $52.00) on shares of Applied Materials in a report on Wednesday, September 18th. Susquehanna Bancshares set a $60.00 price objective on shares of Applied Materials and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Zacks Investment Research raised shares of Applied Materials from a “sell” rating to a “hold” rating and set a $60.00 price objective for the company in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $53.23.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The company’s revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. As a group, research analysts anticipate that Applied Materials, Inc. will post 3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, November 20th. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.
In other news, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total transaction of $1,340,891.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dennis D. Powell sold 25,218 shares of Applied Materials stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $51.44, for a total transaction of $1,297,213.92. The disclosure for this sale can be found here. In the last three months, insiders sold 53,945 shares of company stock worth $2,776,105. Insiders own 0.44% of the company’s stock.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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