Valley Wealth Managers Inc. Has $529,000 Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Valley Wealth Managers Inc. increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,616 shares of the manufacturing equipment provider’s stock after purchasing an additional 333 shares during the period. Valley Wealth Managers Inc.’s holdings in Applied Materials were worth $529,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Summit Securities Group LLC bought a new position in Applied Materials during the second quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials in the 2nd quarter worth approximately $28,000. Clean Yield Group acquired a new stake in Applied Materials in the 3rd quarter valued at $33,000. First PREMIER Bank grew its position in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Applied Materials during the 1st quarter valued at about $35,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Down 9.2 %

AMAT stock opened at $168.88 on Friday. The stock has a market capitalization of $139.22 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.24 and a beta of 1.56. The business has a 50-day moving average of $190.88 and a 200-day moving average of $206.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials, Inc. has a fifty-two week low of $141.94 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 8.51 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 17.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday. B. Riley lowered their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Mizuho dropped their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Stifel Nicolaus decreased their price target on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Susquehanna cut their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has a consensus 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.