Addison Advisors LLC Decreases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Addison Advisors LLC cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,298 shares of the manufacturing equipment provider’s stock after selling 56 shares during the period. Addison Advisors LLC’s holdings in Applied Materials were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMAT. Swedbank AB bought a new stake in shares of Applied Materials during the 1st quarter valued at $773,611,000. Van ECK Associates Corp grew its position in shares of Applied Materials by 29.8% during the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock valued at $1,327,707,000 after acquiring an additional 1,509,439 shares during the period. Janus Henderson Group PLC grew its position in shares of Applied Materials by 126.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after acquiring an additional 1,259,111 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Applied Materials by 262.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after acquiring an additional 1,006,937 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Applied Materials by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock valued at $15,469,028,000 after acquiring an additional 891,446 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

AMAT stock opened at $188.56 on Tuesday. Applied Materials, Inc. has a twelve month low of $141.94 and a twelve month high of $255.89. The business’s fifty day simple moving average is $190.99 and its two-hundred day simple moving average is $207.48. The firm has a market cap of $155.45 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 2.34 and a beta of 1.56. 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 (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts predict that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 17.98%.

Analyst Ratings Changes

Several brokerages recently weighed in on AMAT. Stifel Nicolaus dropped their target price on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 16th. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. JPMorgan Chase & Co. upped their target price on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Mizuho decreased their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, B. Riley decreased their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.19.

Applied Materials 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.