Affinity Investment Advisors LLC lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 90.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,430 shares of the manufacturing equipment provider’s stock after selling 57,954 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Applied Materials were worth $249,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Capital Management Associates NY acquired a new stake in shares of Applied Materials during the second quarter worth $280,000. Credit Agricole S A boosted its holdings in shares of Applied Materials by 5,016.8% during 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 last quarter. American Money Management LLC boosted its holdings in shares of Applied Materials by 19.2% during 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 last quarter. Amussen Hunsaker Associates LLC acquired a new stake in shares of Applied Materials during the second quarter worth $162,000. Finally, Quattro Financial Advisors LLC acquired a new stake in shares of Applied Materials during the third quarter worth $1,088,000. Institutional investors and hedge funds own 78.74% of the company’s stock.
Shares of AMAT opened at $35.05 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.73 and a current ratio of 2.64. The firm has a market capitalization of $34.59 billion, a P/E ratio of 7.88, a PEG ratio of 1.13 and a beta of 1.60. Applied Materials, Inc. has a twelve month low of $30.53 and a twelve month high of $62.40.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.28%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.
Several research firms have recently issued reports on AMAT. Morgan Stanley cut Applied Materials from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $58.00 to $54.00 in a report on Thursday, August 9th. B. Riley decreased their price objective on Applied Materials from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Wells Fargo & Co decreased their price objective on Applied Materials from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 17th. Citigroup decreased their price objective on Applied Materials from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Finally, Susquehanna Bancshares restated a “neutral” rating and set a $38.00 price objective (down previously from $60.00) on shares of Applied Materials in a report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $52.14.
About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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