Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Stiles Financial Services Inc

Stiles Financial Services Inc boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 252.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,734 shares of the manufacturing equipment provider’s stock after buying an additional 3,389 shares during the period. Stiles Financial Services Inc’s holdings in Applied Materials were worth $957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials during the second quarter worth $28,000. PSI Advisors LLC raised its position in 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 buying an additional 56 shares during the period. Clean Yield Group acquired a new position in Applied Materials in the 3rd quarter worth about $33,000. Finally, First PREMIER Bank boosted its stake in shares of Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Down 0.3 %

Shares of AMAT stock opened at $193.56 on Friday. The stock’s 50-day simple moving average is $191.07 and its 200-day simple moving average is $207.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The firm has a market capitalization of $159.57 billion, a PE ratio of 21.81, a P/E/G ratio of 2.22 and a beta of 1.56. 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, beating analysts’ consensus estimates 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 analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Applied Materials, Inc. will post 8.51 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 of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. Applied Materials’s dividend payout ratio is presently 17.98%.

Wall Street Analyst Weigh In

AMAT has been the subject of a number of recent analyst reports. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Mizuho lowered their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group dropped their price objective on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus reduced their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and an average target price of $229.14.

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.