Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,035 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,258 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,035 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Applied Materials were worth $18,843,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials in the first quarter worth $26,000. Summit Securities Group LLC bought a new position in shares of Applied Materials in the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials in the 2nd quarter worth approximately $28,000. Clean Yield Group purchased a new position in shares of Applied Materials in the third quarter worth approximately $33,000. Finally, First PREMIER Bank grew 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 valued at $33,000 after buying an additional 124 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Applied Materials stock opened at $183.24 on Friday. The company’s 50-day moving average price is $195.71 and its 200-day moving average price is $209.36. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The company has a market cap of $151.72 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share. On average, equities research analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal 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. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio is presently 18.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMAT shares. Susquehanna cut their price objective on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Morgan Stanley lowered their price objective on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. B. Riley reduced their target price on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Mizuho decreased their target price on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.14.

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.