Applied Materials, Inc. (NASDAQ:AMAT) Stake Lowered by Versor Investments LP

Versor Investments LP trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 38.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,054 shares of the manufacturing equipment provider’s stock after selling 1,947 shares during the quarter. Versor Investments LP’s holdings in Applied Materials were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMAT. Lountzis Asset Management LLC grew its position in Applied Materials by 0.5% in the third quarter. Lountzis Asset Management LLC now owns 107,449 shares of the manufacturing equipment provider’s stock worth $21,710,000 after acquiring an additional 568 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Applied Materials by 3.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 13,469 shares of the manufacturing equipment provider’s stock valued at $2,721,000 after purchasing an additional 469 shares during the last quarter. Jag Capital Management LLC boosted its holdings in Applied Materials by 1.9% in the third quarter. Jag Capital Management LLC now owns 24,853 shares of the manufacturing equipment provider’s stock worth $5,022,000 after purchasing an additional 475 shares in the last quarter. Kennebec Savings Bank acquired a new position in Applied Materials during the third quarter worth $74,000. Finally, Ashton Thomas Securities LLC bought a new position in Applied Materials during the third quarter valued at about $156,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Down 2.0 %

AMAT opened at $182.79 on Thursday. Applied Materials, Inc. has a fifty-two week low of $141.94 and a fifty-two week high of $255.89. The company has a market capitalization of $150.69 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.29 and a beta of 1.56. 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 firm’s fifty day moving average price is $190.88 and its two-hundred day moving average price is $207.30.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $1.90 earnings per share. On average, analysts anticipate that Applied Materials, Inc. will post 8.51 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.88%. Applied Materials’s payout ratio is presently 17.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Citigroup lowered their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. UBS Group reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Susquehanna lowered their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.24.

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.