Addison Advisors LLC Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Addison Advisors LLC lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,298 shares of the manufacturing equipment provider’s stock after selling 56 shares during the quarter. Addison Advisors LLC’s holdings in Applied Materials were worth $262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMAT. Summit Securities Group LLC purchased a new stake in shares of Applied Materials during the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials in the 2nd quarter worth $28,000. Clean Yield Group purchased a new position in Applied Materials in the 3rd quarter worth $33,000. First PREMIER Bank raised 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. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Applied Materials in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Susquehanna reduced their target price on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. B. Riley cut their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Mizuho cut their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and an average price target of $228.19.

Applied Materials Trading Down 1.8 %

AMAT opened at $188.56 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The company’s 50 day simple moving average is $190.99 and its two-hundred day simple moving average is $207.48. Applied Materials, Inc. has a 1-year low of $141.94 and a 1-year high of $255.89. The firm has a market capitalization of $155.45 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.34 and a beta of 1.56.

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, beating the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 EPS. Analysts expect that Applied Materials, Inc. will post 8.51 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. Stockholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is presently 17.98%.

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.