Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 774.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,993 shares of the manufacturing equipment provider’s stock after acquiring an additional 247,100 shares during the period. Public Sector Pension Investment Board’s holdings in Applied Materials were worth $56,371,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials in the second quarter worth about $28,000. Clean Yield Group acquired a new stake in Applied Materials during the third quarter worth about $33,000. First PREMIER Bank raised its position in Applied Materials by 326.3% during 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 in the last quarter. Finally, PSI Advisors LLC lifted its holdings in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after acquiring an additional 56 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $171.32 on Thursday. The firm has a 50-day simple moving average of $188.97 and a 200-day simple moving average of $204.99. The stock has a market capitalization of $141.24 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.64 and a beta of 1.56. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52 week low of $144.57 and a 52 week high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.58%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. B. Riley dropped their price objective 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. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC lowered their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Susquehanna cut their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Finally, Stifel Nicolaus lowered their price target on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $222.05.

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.