Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% during the third quarter, Holdings Channel.com reports. The firm owned 41,517 shares of the manufacturing equipment provider’s stock after buying an additional 647 shares during the quarter. Applied Materials accounts for approximately 0.7% of Plato Investment Management Ltd’s portfolio, making the stock its 23rd biggest position. Plato Investment Management Ltd’s holdings in Applied Materials were worth $8,380,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Kingsview Wealth Management LLC increased its position in shares of Applied Materials by 7.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 15,184 shares of the manufacturing equipment provider’s stock valued at $3,131,000 after purchasing an additional 1,038 shares during the period. Orion Portfolio Solutions LLC raised its position in Applied Materials by 7.4% in the first quarter. Orion Portfolio Solutions LLC now owns 57,383 shares of the manufacturing equipment provider’s stock worth $11,834,000 after acquiring an additional 3,964 shares in the last quarter. ProVise Management Group LLC acquired a new stake in Applied Materials in the 1st quarter valued at about $361,000. Dorsey & Whitney Trust CO LLC lifted its holdings in Applied Materials by 0.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,041 shares of the manufacturing equipment provider’s stock valued at $1,246,000 after acquiring an additional 54 shares during the last quarter. Finally, RFP Financial Group LLC grew its stake in shares of Applied Materials by 96.6% in the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company cut their price objective on Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Susquehanna cut their target price on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, B. Riley decreased their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.24.

Applied Materials Trading Down 2.0 %

Shares of NASDAQ:AMAT opened at $182.79 on Thursday. The firm has a fifty day moving average of $190.88 and a two-hundred day moving average of $207.30. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12-month low of $141.94 and a 12-month high of $255.89. The firm has a market capitalization of $150.69 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.29 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company earned $1.90 earnings per share. Applied Materials’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Applied Materials, Inc. will post 8.51 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. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) 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.