Applied Materials, Inc. (NASDAQ:AMAT) Position Trimmed by Vestcor Inc

Vestcor Inc reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,342 shares of the manufacturing equipment provider's stock after selling 5,936 shares during the quarter. Vestcor Inc's holdings in Applied Materials were worth $5,322,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMAT. Lantz Financial LLC purchased a new stake in Applied Materials during the 2nd quarter worth approximately $212,000. Burke & Herbert Bank & Trust Co. boosted its holdings in shares of Applied Materials by 123.4% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 4,051 shares of the manufacturing equipment provider's stock valued at $956,000 after buying an additional 2,238 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of Applied Materials by 13.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 21,021 shares of the manufacturing equipment provider's stock valued at $4,961,000 after buying an additional 2,567 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in Applied Materials by 92.4% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 504 shares of the manufacturing equipment provider's stock worth $119,000 after purchasing an additional 242 shares during the period. Finally, Key Client Fiduciary Advisors LLC boosted its stake in Applied Materials by 3.3% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 2,421 shares of the manufacturing equipment provider's stock worth $571,000 after purchasing an additional 77 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Trading Down 2.1 %

AMAT stock traded down $3.69 during midday trading on Tuesday, reaching $168.17. 8,226,442 shares of the company's stock traded hands, compared to its average volume of 6,201,802. The company has a market capitalization of $138.64 billion, a P/E ratio of 19.53, a PEG ratio of 1.63 and a beta of 1.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. Applied Materials, Inc. has a fifty-two week low of $148.05 and a fifty-two week high of $255.89. The business has a 50-day moving average price of $185.31 and a two-hundred day moving average price of $202.74.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. Equities research analysts forecast that Applied Materials, Inc. will post 9.45 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business 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 $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 0.95%. Applied Materials's dividend payout ratio (DPR) is presently 18.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMAT shares. Dbs Bank cut shares of Applied Materials from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 target price on shares of Applied Materials in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Applied Materials from $220.00 to $200.00 and set a "hold" rating for the company in a research note on Friday, November 15th. Mizuho cut their price target on shares of Applied Materials from $245.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, September 20th. Finally, Needham & Company LLC cut their price target on shares of Applied Materials from $240.00 to $225.00 and set a "buy" rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Applied Materials presently has an average rating of "Moderate Buy" and an average price target of $220.29.

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.