Shayne & Jacobs LLC Sells 1,030 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Shayne & Jacobs LLC lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.3% during the 3rd quarter, Holdings Channel reports. The firm owned 22,659 shares of the manufacturing equipment provider’s stock after selling 1,030 shares during the period. Applied Materials comprises about 1.1% of Shayne & Jacobs LLC’s portfolio, making the stock its 12th biggest holding. Shayne & Jacobs LLC’s holdings in Applied Materials were worth $4,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC bought a new stake in Applied Materials in the 1st quarter worth approximately $26,000. Summit Securities Group LLC bought a new stake in Applied Materials in the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials in the 2nd quarter worth approximately $28,000. Clean Yield Group bought a new stake in Applied Materials in the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank increased its stake in Applied Materials by 326.3% in the 3rd 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. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley dropped their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. UBS Group dropped their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. Susquehanna dropped their target price on Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Wells Fargo & Company dropped their target price on Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.14.

Applied Materials Trading Up 1.5 %

AMAT opened at $186.52 on Friday. The firm has a market cap of $154.43 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.66 and a beta of 1.54. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The stock has a fifty day moving average price of $194.14 and a 200-day moving average price of $208.58.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share 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. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

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.