OmniStar Financial Group Inc. raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,523 shares of the manufacturing equipment provider’s stock after acquiring an additional 946 shares during the period. OmniStar Financial Group Inc.’s holdings in Applied Materials were worth $675,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new stake in shares of Applied Materials in the 1st quarter worth about $27,000. Front Row Advisors LLC increased its holdings in shares of Applied Materials by 283.6% in the 1st quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 607 shares during the last quarter. Sandy Spring Bank increased its holdings in shares of Applied Materials by 57.4% in the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after buying an additional 287 shares during the last quarter. Next Capital Management LLC bought a new stake in shares of Applied Materials in the 2nd quarter worth about $35,000. Finally, Coastal Capital Group Inc. bought a new stake in shares of Applied Materials in the 2nd quarter worth about $36,000. Institutional investors own 78.70% of the company’s stock.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Deutsche Bank boosted their target price on shares of Applied Materials from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday. Royal Bank of Canada restated a “buy” rating and issued a $54.00 target price on shares of Applied Materials in a report on Wednesday, August 14th. Goldman Sachs Group downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Finally, Needham & Company LLC boosted their target price on shares of Applied Materials from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $52.10.
Shares of AMAT stock traded up $0.74 during trading hours on Friday, reaching $51.75. 6,120,049 shares of the stock were exchanged, compared to its average volume of 6,742,144. Applied Materials, Inc. has a 12-month low of $28.79 and a 12-month high of $52.62. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $49.55 and its 200-day moving average price is $45.18. The firm has a market capitalization of $45.55 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 3.29 and a beta of 1.65.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the company earned $1.20 EPS. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, sell-side analysts expect that Applied Materials, Inc. will post 3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 annualized dividend and a yield of 1.62%. Applied Materials’s dividend payout ratio (DPR) is 18.88%.
In other Applied Materials news, SVP Steve G. Ghanayem sold 25,727 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total value of $1,340,891.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,945 shares of company stock valued at $2,776,105. 0.44% of the stock is owned by corporate insiders.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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