Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Decreased by Telemark Asset Management LLC

Telemark Asset Management LLC reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 71.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the manufacturing equipment provider's stock after selling 50,000 shares during the quarter. Telemark Asset Management LLC's holdings in Applied Materials were worth $4,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMAT. Summit Securities Group LLC purchased a new stake in Applied Materials in the 2nd quarter valued at approximately $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials during the second quarter worth $28,000. Clean Yield Group acquired a new position in shares of Applied Materials during the 3rd quarter worth $33,000. First PREMIER Bank raised its position in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider's stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Finally, PSI Advisors LLC lifted its stake in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider's stock valued at $37,000 after buying an additional 56 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Trading Down 0.5 %

Shares of Applied Materials stock traded down $0.87 during trading hours on Friday, hitting $174.88. The company's stock had a trading volume of 4,239,511 shares, compared to its average volume of 6,162,263. The business has a fifty day moving average of $190.11 and a 200 day moving average of $205.97. Applied Materials, Inc. has a 1-year low of $144.57 and a 1-year 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 company has a market capitalization of $144.17 billion, a PE ratio of 20.28, a P/E/G ratio of 1.59 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.96 billion. During the same period last year, the company posted $2.12 earnings per share. The firm's revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts forecast that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials's dividend payout ratio (DPR) is 18.58%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMAT shares. Dbs Bank downgraded Applied Materials from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 16th. Bank of America dropped their price objective on Applied Materials from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Morgan Stanley reduced their target price on shares of Applied Materials from $185.00 to $179.00 and set an "equal weight" rating on the stock in a report on Friday, November 15th. Citigroup lowered their price target on shares of Applied Materials from $240.00 to $217.00 and set a "buy" rating for the company in a report on Monday, September 16th. Finally, Susquehanna reduced their price objective 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, November 11th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $219.81.

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.