Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by STAR Financial Bank

STAR Financial Bank trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 25.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,538 shares of the manufacturing equipment provider’s stock after selling 514 shares during the period. STAR Financial Bank’s holdings in Applied Materials were worth $311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMAT. Intech Investment Management LLC increased its holdings in shares of Applied Materials by 5.7% in the 3rd quarter. Intech Investment Management LLC now owns 34,379 shares of the manufacturing equipment provider’s stock valued at $6,946,000 after acquiring an additional 1,860 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Applied Materials by 12.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,053,230 shares of the manufacturing equipment provider’s stock worth $212,805,000 after purchasing an additional 116,312 shares during the period. King Luther Capital Management Corp increased its stake in Applied Materials by 2.7% during the third quarter. King Luther Capital Management Corp now owns 4,037 shares of the manufacturing equipment provider’s stock valued at $816,000 after purchasing an additional 106 shares during the last quarter. Cornerstone Advisors LLC raised its holdings in shares of Applied Materials by 20.0% during the third quarter. Cornerstone Advisors LLC now owns 51,700 shares of the manufacturing equipment provider’s stock worth $10,446,000 after purchasing an additional 8,600 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Applied Materials by 0.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 49,408 shares of the manufacturing equipment provider’s stock worth $9,983,000 after buying an additional 225 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

NASDAQ:AMAT opened at $170.49 on Thursday. Applied Materials, Inc. has a 52-week low of $144.57 and a 52-week high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The firm has a market cap of $140.55 billion, a P/E ratio of 19.80, a PEG ratio of 2.07 and a beta of 1.56. The business’s 50-day moving average price is $190.26 and its 200 day moving average price is $206.19.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the previous year, the company posted $2.12 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.52 earnings per share 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. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. Applied Materials’s dividend payout ratio is currently 18.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMAT. Citigroup lowered their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. B. Riley dropped their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. UBS Group dropped their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Wells Fargo & Company lowered their price target on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $219.81.

About Applied Materials

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.