Maple Capital Management Inc. Has $13.92 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Maple Capital Management Inc. lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,869 shares of the manufacturing equipment provider’s stock after selling 1,941 shares during the quarter. Maple Capital Management Inc.’s holdings in Applied Materials were worth $13,915,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the 1st quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in Applied Materials during the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in Applied Materials during the 2nd quarter valued at $28,000. Clean Yield Group bought a new position in Applied Materials during the 3rd quarter worth $33,000. Finally, First PREMIER Bank increased its position in 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 buying an additional 124 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $183.39 on Tuesday. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. The firm’s 50-day simple moving average is $195.44 and its 200 day simple moving average is $209.11. 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 stock has a market cap of $151.84 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.66 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT) last posted 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 firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the firm earned $1.90 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio is currently 18.39%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Tuesday, October 8th. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price target on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. UBS Group dropped their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.