Tdam USA Inc. increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,961 shares of the manufacturing equipment provider’s stock after purchasing an additional 10,976 shares during the period. Tdam USA Inc.’s holdings in Applied Materials were worth $14,869,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of AMAT. Boston Common Asset Management LLC raised its position in Applied Materials by 21.3% in the 3rd quarter. Boston Common Asset Management LLC now owns 107,888 shares of the manufacturing equipment provider’s stock valued at $4,170,000 after buying an additional 18,931 shares during the last quarter. Engineers Gate Manager LP raised its position in Applied Materials by 147.2% in the 3rd quarter. Engineers Gate Manager LP now owns 61,540 shares of the manufacturing equipment provider’s stock valued at $2,379,000 after buying an additional 36,648 shares during the last quarter. Synovus Financial Corp raised its position in Applied Materials by 4.7% in the 3rd quarter. Synovus Financial Corp now owns 62,650 shares of the manufacturing equipment provider’s stock valued at $2,430,000 after buying an additional 2,840 shares during the last quarter. Victory Capital Management Inc. raised its position in Applied Materials by 37.6% in the 3rd quarter. Victory Capital Management Inc. now owns 70,421 shares of the manufacturing equipment provider’s stock valued at $2,722,000 after buying an additional 19,234 shares during the last quarter. Finally, R. G. Niederhoffer Capital Management Inc. purchased a new stake in Applied Materials in the 3rd quarter valued at $367,000. Institutional investors own 77.35% of the company’s stock.
A number of equities research analysts recently commented on the company. BidaskClub raised Applied Materials from a “strong sell” rating to a “sell” rating in a research report on Friday. B. Riley lowered Applied Materials from a “buy” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $36.00 in a research report on Monday, October 29th. Susquehanna Bancshares reissued a “neutral” rating and issued a $38.00 price target (down from $60.00) on shares of Applied Materials in a research report on Tuesday, October 23rd. UBS Group lowered Applied Materials from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research lowered Applied Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.50.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the firm posted $0.86 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. Equities analysts expect that Applied Materials, Inc. will post 4.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s dividend payout ratio is presently 24.62%.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
Further Reading: What are Institutional Investors?
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