Applied Materials, Inc. (AMAT) Stake Boosted by Private Trust Co. NA

Private Trust Co. NA grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 88.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,967 shares of the manufacturing equipment provider’s stock after acquiring an additional 12,188 shares during the period. Private Trust Co. NA’s holdings in Applied Materials were worth $1,003,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMAT. Capital Management Associates NY purchased a new stake in Applied Materials in the second quarter worth about $280,000. Credit Agricole S A grew its holdings in Applied Materials by 5,016.8% in the second quarter. Credit Agricole S A now owns 24,100 shares of the manufacturing equipment provider’s stock worth $1,113,000 after purchasing an additional 23,629 shares during the period. American Money Management LLC grew its holdings in Applied Materials by 19.2% in the second quarter. American Money Management LLC now owns 21,660 shares of the manufacturing equipment provider’s stock worth $1,000,000 after purchasing an additional 3,495 shares during the period. Amussen Hunsaker Associates LLC purchased a new stake in Applied Materials in the second quarter worth about $162,000. Finally, Rampart Investment Management Company LLC grew its holdings in Applied Materials by 11.9% in the second quarter. Rampart Investment Management Company LLC now owns 100,748 shares of the manufacturing equipment provider’s stock worth $4,654,000 after purchasing an additional 10,687 shares during the period. 77.21% of the stock is owned by hedge funds and other institutional investors.

AMAT stock traded down $0.77 on Tuesday, hitting $35.82. The company had a trading volume of 290,412 shares, compared to its average volume of 13,518,028. Applied Materials, Inc. has a 12-month low of $36.31 and a 12-month high of $62.40. The company has a current ratio of 2.52, a quick ratio of 1.67 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $37.99 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.79 and a beta of 1.49.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The company had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities analysts predict that Applied Materials, Inc. will post 4.45 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, November 21st. Applied Materials’s dividend payout ratio is currently 24.62%.

A number of equities research analysts have weighed in on AMAT shares. BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Deutsche Bank cut their price objective on shares of Applied Materials from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 17th. ValuEngine cut shares of Applied Materials from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. Royal Bank of Canada cut shares of Applied Materials from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $67.73 to $55.00 in a report on Wednesday, June 13th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares cut their price target on shares of Applied Materials from $73.00 to $65.00 and set a “positive” rating on the stock in a report on Monday, July 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $61.95.

Applied Materials Company Profile

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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