Applied Materials, Inc. (NASDAQ:AMAT) Stake Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 475,878 shares of the manufacturing equipment provider’s stock after purchasing an additional 373 shares during the period. PNC Financial Services Group Inc.’s holdings in Applied Materials were worth $96,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in shares of Applied Materials in the 2nd quarter valued at approximately $26,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials in the 2nd quarter valued at approximately $28,000. PSI Advisors LLC lifted its position in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Clean Yield Group purchased a new stake in Applied Materials in the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank lifted its position in 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 buying an additional 124 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Down 0.8 %

Shares of Applied Materials stock opened at $169.31 on Wednesday. The firm’s 50-day moving average price is $190.57 and its two-hundred day moving average price is $206.44. Applied Materials, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $139.58 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share 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 company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same period last year, the company posted $2.12 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that Applied Materials, Inc. will post 9.52 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. Applied Materials’s payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

AMAT has been the subject of a number of research analyst reports. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Susquehanna cut their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Evercore ISI cut their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Needham & Company LLC dropped their price target 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. Finally, Citigroup dropped their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.