Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,052 shares of the manufacturing equipment provider’s stock after selling 888 shares during the period. Chemung Canal Trust Co.’s holdings in Applied Materials were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in AMAT. Clean Yield Group purchased a new stake in Applied Materials in the third quarter valued at $33,000. First PREMIER Bank increased its position in shares of Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials during the 3rd quarter worth about $37,000. DT Investment Partners LLC raised its holdings in Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares during the period. Finally, City Holding Co. acquired a new position in Applied Materials in the fourth quarter valued at about $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMAT has been the subject of a number of recent analyst reports. Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research note on Friday, November 15th. TD Cowen decreased their price objective on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America dropped their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Needham & Company LLC lowered their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.71.

Applied Materials Trading Down 2.1 %

NASDAQ:AMAT opened at $186.75 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $173.64 and its 200-day simple moving average is $189.92. Applied Materials, Inc. has a 12-month low of $158.96 and a 12-month high of $255.89. The firm has a market cap of $151.95 billion, a P/E ratio of 21.69, a PEG ratio of 1.99 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $2.12 EPS. Equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 18.58%.

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.