SouthState Corp Has $714,000 Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

SouthState Corp cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 3,535 shares of the manufacturing equipment provider’s stock after selling 80 shares during the quarter. SouthState Corp’s holdings in Applied Materials were worth $714,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMAT. Prospera Financial Services Inc lifted its holdings in Applied Materials by 29.6% in the third quarter. Prospera Financial Services Inc now owns 18,472 shares of the manufacturing equipment provider’s stock valued at $3,734,000 after buying an additional 4,215 shares during the period. Caprock Group LLC lifted its stake in shares of Applied Materials by 1.0% in the 3rd quarter. Caprock Group LLC now owns 19,290 shares of the manufacturing equipment provider’s stock valued at $3,898,000 after purchasing an additional 191 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials during the third quarter worth $37,000. J. W. Coons Advisors LLC increased its holdings in Applied Materials by 2.1% in the third quarter. J. W. Coons Advisors LLC now owns 4,560 shares of the manufacturing equipment provider’s stock valued at $921,000 after purchasing an additional 95 shares during the last quarter. Finally, GLOBALT Investments LLC GA lifted its stake in Applied Materials by 0.8% in the third quarter. GLOBALT Investments LLC GA now owns 10,191 shares of the manufacturing equipment provider’s stock valued at $2,059,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

AMAT has been the subject of several analyst reports. Evercore ISI decreased their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Citigroup cut their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Needham & Company LLC decreased their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Wells Fargo & Company dropped their price objective on Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average price target of $219.81.

Applied Materials Trading Down 0.8 %

Shares of NASDAQ:AMAT opened at $169.31 on Wednesday. The company’s 50-day moving average price is $190.57 and its two-hundred day moving average price is $206.44. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The stock has a market capitalization of $139.58 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. Applied Materials’s revenue was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Applied Materials, Inc. will post 9.52 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 0.95%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 18.58%.

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.