Berkshire Bank Buys Shares of 1,850 Applied Materials, Inc. (NASDAQ:AMAT)

Berkshire Bank bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,850 shares of the manufacturing equipment provider's stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also modified their holdings of AMAT. Clean Yield Group bought a new stake in Applied Materials in the third quarter valued at approximately $33,000. First PREMIER Bank increased its position in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider's stock valued at $33,000 after buying an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials during the 3rd quarter worth $37,000. DT Investment Partners LLC increased its holdings in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider's stock worth $39,000 after acquiring an additional 166 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials during the fourth quarter worth about $39,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded down $1.37 during trading hours on Friday, reaching $180.35. 5,611,308 shares of the stock were exchanged, compared to its average volume of 6,743,652. The stock's fifty day simple moving average is $174.37 and its 200 day simple moving average is $187.51. The firm has a market capitalization of $146.57 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.79 and a beta of 1.53. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.89%. Applied Materials's payout ratio is presently 18.58%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI cut their price target on shares of Applied Materials from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on Applied Materials from $220.00 to $200.00 and set a "hold" rating for the company in a research report on Friday, November 15th. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 target price on the stock in a research note on Friday, January 17th. Wells Fargo & Company lowered their price objective on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and an average price target of $218.71.

Applied Materials Company 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.