STF Management LP Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

STF Management LP cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,257 shares of the manufacturing equipment provider’s stock after selling 983 shares during the period. Applied Materials comprises about 1.1% of STF Management LP’s investment portfolio, making the stock its 24th biggest position. STF Management LP’s holdings in Applied Materials were worth $2,477,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AMAT. Summit Securities Group LLC purchased a new stake in Applied Materials in the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials during the second quarter worth about $28,000. Clean Yield Group purchased a new position in Applied Materials during the third quarter valued at $33,000. First PREMIER Bank lifted its stake in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Finally, PSI Advisors LLC grew its position in shares of Applied Materials by 56.0% during the second 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 in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 3.1 %

NASDAQ AMAT opened at $175.34 on Friday. The stock has a market cap of $144.55 billion, a PE ratio of 20.36, a PEG ratio of 1.59 and a beta of 1.56. Applied Materials, Inc. has a 12 month low of $144.57 and a 12 month high of $255.89. The company’s 50-day moving average price is $190.11 and its 200-day moving average price is $205.97. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. Equities research analysts forecast that Applied Materials, Inc. will post 9.5 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. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analysts Forecast Growth

AMAT has been the subject of a number of research reports. Evercore ISI dropped their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company cut their target price on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Bank of America decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Needham & Company LLC dropped their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, B. Riley decreased their target price on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Eight equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $219.81.

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.