Frank Rimerman Advisors LLC Cuts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Frank Rimerman Advisors LLC lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,153 shares of the manufacturing equipment provider’s stock after selling 2,309 shares during the period. Frank Rimerman Advisors LLC’s holdings in Applied Materials were worth $3,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AMAT. Redmont Wealth Advisors LLC bought a new position in shares of Applied Materials during the 1st quarter worth approximately $26,000. Summit Securities Group LLC purchased a new position in Applied Materials in the second quarter worth $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials during the second quarter worth $28,000. Clean Yield Group purchased a new stake in shares of Applied Materials during the 3rd quarter valued at $33,000. Finally, First PREMIER Bank boosted its position in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.5 %

Shares of AMAT stock opened at $186.52 on Friday. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89. The stock has a market cap of $154.43 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.66 and a beta of 1.54. The stock has a 50 day moving average of $193.72 and a 200 day moving average of $208.41. 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 data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the company earned $1.90 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is currently 18.39%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMAT. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Mizuho decreased their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their target price 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. 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. Finally, Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.