Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,038 shares of the manufacturing equipment provider’s stock after selling 4,090 shares during the period. Investment Management Corp of Ontario’s holdings in Applied Materials were worth $17,182,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials during the second quarter worth approximately $28,000. PSI Advisors LLC grew its holdings in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Clean Yield Group bought a new position in shares of Applied Materials during the third quarter worth about $33,000. Finally, First PREMIER Bank grew its holdings in Applied Materials by 326.3% in the third 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 period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $183.26 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $151.08 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.64 and a beta of 1.52. Applied Materials, Inc. has a twelve month low of $144.57 and a twelve month high of $255.89. The stock’s 50-day simple moving average is $187.90 and its two-hundred day simple moving average is $204.19.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $2.12 earnings per share. As a group, equities analysts anticipate that Applied Materials, Inc. will post 9.5 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 18.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Citigroup decreased their price objective on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. Evercore ISI lowered their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Finally, Bank of America reduced their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $221.48.

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.