Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 15.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,994 shares of the manufacturing equipment provider’s stock after selling 367 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Applied Materials were worth $426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Central Pacific Bank Trust Division acquired a new position in shares of Applied Materials in the first quarter worth about $57,000. PFG Advisors raised its position in shares of Applied Materials by 42.7% in the 1st quarter. PFG Advisors now owns 2,554 shares of the manufacturing equipment provider’s stock valued at $527,000 after purchasing an additional 764 shares in the last quarter. Hansen & Associates Financial Group Inc. purchased a new position in shares of Applied Materials during the 1st quarter valued at approximately $3,245,000. Algebris UK Ltd grew its position in shares of Applied Materials by 0.6% during the first quarter. Algebris UK Ltd now owns 205,004 shares of the manufacturing equipment provider’s stock worth $42,278,000 after buying an additional 1,271 shares in the last quarter. Finally, Benedetti & Gucer Inc. bought a new stake in shares of Applied Materials in the first quarter worth $209,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

AMAT has been the subject of several recent analyst reports. Susquehanna decreased their price objective on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Citigroup lowered their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.14.

Applied Materials Trading Up 3.5 %

NASDAQ:AMAT opened at $194.09 on Friday. The stock has a market cap of $160.01 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.22 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The business has a fifty day moving average of $191.07 and a 200-day moving average of $207.37. Applied Materials, Inc. has a 1 year low of $141.61 and a 1 year high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the firm posted $1.90 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 17.98%.

About Applied Materials

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.