Parallel Advisors LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 26.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,876 shares of the manufacturing equipment provider’s stock after buying an additional 1,016 shares during the quarter. Parallel Advisors LLC’s holdings in Applied Materials were worth $243,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMAT. Northwest Investment Counselors LLC bought a new position in Applied Materials in the third quarter valued at approximately $29,000. Sandy Spring Bank raised its holdings in shares of Applied Materials by 57.4% in the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock valued at $35,000 after purchasing an additional 287 shares during the last quarter. Next Capital Management LLC acquired a new stake in shares of Applied Materials in the second quarter valued at approximately $35,000. Coastal Capital Group Inc. acquired a new stake in shares of Applied Materials in the second quarter valued at approximately $36,000. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of Applied Materials in the third quarter valued at approximately $39,000. 79.06% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Steve G. Ghanayem sold 25,727 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total transaction of $1,340,891.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen R. Forrest sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 53,945 shares of company stock valued at $2,776,105. 0.44% of the stock is currently owned by company insiders.
AMAT traded up $0.09 during trading on Friday, reaching $56.03. 3,313,800 shares of the stock were exchanged, compared to its average volume of 9,191,457. The stock’s 50 day moving average price is $52.53 and its two-hundred day moving average price is $46.93. The stock has a market cap of $51.62 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 3.40 and a beta of 1.66. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $57.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. Applied Materials’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 earnings per share. Equities research analysts predict that Applied Materials, Inc. will post 3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.50%. Applied Materials’s payout ratio is presently 18.88%.
A number of analysts have recently issued reports on AMAT shares. Royal Bank of Canada reiterated a “buy” rating and issued a $54.00 price objective on shares of Applied Materials in a report on Wednesday, August 14th. BidaskClub upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating in a report on Friday, October 4th. ValuEngine downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. DZ Bank downgraded shares of Applied Materials from a “hold” rating to a “sell” rating and set a $46.00 price objective on the stock. in a report on Tuesday, October 29th. Finally, Goldman Sachs Group downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Applied Materials has a consensus rating of “Buy” and a consensus target price of $53.23.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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