Hodges Capital Management Inc. reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 30.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,897 shares of the manufacturing equipment provider’s stock after selling 3,825 shares during the quarter. Hodges Capital Management Inc.’s holdings in Applied Materials were worth $529,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Diversified Trust Co grew its stake in shares of Applied Materials by 67.7% during the 3rd quarter. Diversified Trust Co now owns 11,027 shares of the manufacturing equipment provider’s stock valued at $656,000 after purchasing an additional 4,453 shares during the period. FormulaFolio Investments LLC grew its stake in shares of Applied Materials by 56.9% during the 3rd quarter. FormulaFolio Investments LLC now owns 5,424 shares of the manufacturing equipment provider’s stock valued at $322,000 after purchasing an additional 1,967 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Applied Materials by 0.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 41,220 shares of the manufacturing equipment provider’s stock valued at $2,451,000 after purchasing an additional 199 shares during the period. Gyroscope Capital Management Group LLC bought a new stake in shares of Applied Materials during the 3rd quarter valued at about $873,000. Finally, Raymond James Trust N.A. grew its stake in shares of Applied Materials by 2.7% during the 3rd quarter. Raymond James Trust N.A. now owns 115,725 shares of the manufacturing equipment provider’s stock valued at $6,880,000 after purchasing an additional 3,037 shares during the period. Institutional investors and hedge funds own 79.23% of the company’s stock.
A number of research analysts recently issued reports on AMAT shares. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Barclays boosted their price objective on Applied Materials from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Wells Fargo & Company boosted their price objective on Applied Materials from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Mizuho boosted their price objective on Applied Materials from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, 140166 boosted their price objective on Applied Materials from $74.00 to $85.00 in a research note on Friday, August 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $73.29.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 13th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Applied Materials had a return on equity of 38.81% and a net margin of 19.58%. During the same period in the prior year, the firm earned $0.74 EPS. On average, sell-side analysts expect that Applied Materials, Inc. will post 4.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 18th. This represents a $0.88 annualized dividend and a dividend yield of 1.40%. Applied Materials’s dividend payout ratio (DPR) is 28.95%.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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