Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,056 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,000 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Applied Materials were worth $2,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of Applied Materials by 5.5% during the 3rd quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock worth $3,316,269,000 after purchasing an additional 858,122 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Applied Materials by 3.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock worth $1,790,554,000 after purchasing an additional 318,445 shares during the period. Van ECK Associates Corp grew its stake in shares of Applied Materials by 29.8% during the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after purchasing an additional 1,509,439 shares during the period. American Century Companies Inc. grew its stake in shares of Applied Materials by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 5,084,186 shares of the manufacturing equipment provider’s stock worth $1,199,817,000 after purchasing an additional 81,151 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Applied Materials by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,679,355 shares of the manufacturing equipment provider’s stock worth $945,464,000 after purchasing an additional 44,928 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

AMAT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their target price on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Needham & Company LLC decreased their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, TD Cowen decreased their price objective on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.48.

Applied Materials Stock Down 0.1 %

Shares of NASDAQ:AMAT opened at $183.16 on Wednesday. The business has a 50-day moving average price of $187.62 and a 200 day moving average price of $203.99. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $151.00 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.72 and a beta of 1.52. Applied Materials, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $2.12 EPS. Sell-side analysts expect that Applied Materials, Inc. will post 9.5 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. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.58%.

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.