Polaris Greystone Financial Group LLC increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 499,595 shares of the manufacturing equipment provider’s stock after buying an additional 2,635 shares during the period. Applied Materials accounts for about 2.0% of Polaris Greystone Financial Group LLC’s holdings, making the stock its 21st largest holding. Polaris Greystone Financial Group LLC owned 0.05% of Applied Materials worth $24,710,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of AMAT. Princeton Global Asset Management LLC purchased a new stake in Applied Materials during the 1st quarter valued at $27,000. Front Row Advisors LLC lifted its holdings in shares of Applied Materials by 283.6% during the 1st quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 607 shares during the period. Sandy Spring Bank lifted its holdings in shares of Applied Materials by 57.4% during the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock valued at $35,000 after buying an additional 287 shares during the period. Next Capital Management LLC bought a new position in shares of Applied Materials during the 2nd quarter valued at $35,000. Finally, Coastal Capital Group Inc. bought a new position in shares of Applied Materials during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 78.70% of the company’s stock.
In other Applied Materials news, SVP Steve G. Ghanayem sold 25,727 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total value of $1,340,891.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 3,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total value of $138,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,945 shares of company stock worth $2,776,105. 0.44% of the stock is owned by insiders.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the firm earned $1.20 EPS. Applied Materials’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, analysts predict that Applied Materials, Inc. will post 3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. Applied Materials’s dividend payout ratio is currently 18.88%.
Several equities analysts have recently weighed in on AMAT shares. Nomura set a $40.00 price target on Applied Materials and gave the company a “hold” rating in a report on Friday, August 16th. Susquehanna Bancshares set a $60.00 price target on Applied Materials and gave the company a “buy” rating in a report on Friday, August 16th. B. Riley set a $54.00 price target on Applied Materials and gave the company a “buy” rating in a report on Friday, August 16th. Cowen reissued an “outperform” rating and set a $55.00 price target (up from $53.00) on shares of Applied Materials in a report on Friday, August 16th. Finally, BidaskClub raised Applied Materials from a “buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Applied Materials presently has an average rating of “Buy” and a consensus target price of $51.86.
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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