Coastline Trust Co Sells 1,480 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Coastline Trust Co cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 52.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,335 shares of the manufacturing equipment provider’s stock after selling 1,480 shares during the period. Coastline Trust Co’s holdings in Applied Materials were worth $270,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Swedbank AB purchased a new position in shares of Applied Materials in the 1st quarter worth approximately $773,611,000. Van ECK Associates Corp grew its holdings in Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after purchasing an additional 1,509,439 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Applied Materials by 126.4% during the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after purchasing an additional 1,259,111 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 purchasing an additional 1,006,937 shares during the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new stake in shares of Applied Materials in the 1st quarter worth $162,873,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

Shares of AMAT stock opened at $168.88 on Friday. The company 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. Applied Materials, Inc. has a 12-month low of $141.94 and a 12-month high of $255.89. The business’s 50 day moving average is $190.88 and its two-hundred day moving average is $206.78. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last issued its quarterly 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 company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Applied Materials, Inc. will post 8.51 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.95%. Applied Materials’s dividend payout ratio (DPR) is currently 17.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMAT shares. Bank of America lowered their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley lowered their target price on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group cut their price target on shares of 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. lifted their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, B. Riley cut their target price on 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 research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.