Mengis Capital Management Inc. Sells 650 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Mengis Capital Management Inc. trimmed its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 17.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,008 shares of the manufacturing equipment provider’s stock after selling 650 shares during the period. Mengis Capital Management Inc.’s holdings in Applied Materials were worth $417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Freedom LLC purchased a new position in shares of Applied Materials during the 4th quarter valued at about $25,000. Mcmillion Capital Management Inc. purchased a new position in shares of Applied Materials during the 2nd quarter valued at about $29,000. CGC Financial Services LLC purchased a new position in shares of Applied Materials during the 2nd quarter valued at about $29,000. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, BluePath Capital Management LLC purchased a new position in shares of Applied Materials during the 3rd quarter valued at about $39,000. 77.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMAT has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Applied Materials in a research report on Friday, November 17th. Mizuho lifted their target price on Applied Materials from $162.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Bank Of America (Bofa) lifted their target price on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Morgan Stanley lifted their target price on Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, B. Riley lifted their target price on Applied Materials from $175.00 to $220.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.50.

Check Out Our Latest Analysis on Applied Materials

Applied Materials Trading Down 0.2 %

AMAT traded down $0.30 during trading hours on Monday, reaching $185.54. 7,010,418 shares of the company’s stock traded hands, compared to its average volume of 6,366,142. The firm has a 50-day moving average price of $160.18 and a 200 day moving average price of $149.49. Applied Materials, Inc. has a 52-week low of $109.00 and a 52-week high of $188.21. The company has a quick ratio of 1.82, a current ratio of 2.60 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $154.38 billion, a PE ratio of 22.88, a PEG ratio of 3.67 and a beta of 1.55.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.14. Applied Materials had a return on equity of 46.12% and a net margin of 25.85%. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter in the previous year, the business earned $2.03 EPS. Applied Materials’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials, Inc. will post 7.61 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 22nd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, February 21st. Applied Materials’s dividend payout ratio is 15.78%.

Insiders Place Their Bets

In other Applied Materials news, SVP Omkaram Nalamasu sold 23,228 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $162.45, for a total value of $3,773,388.60. Following the completion of the sale, the senior vice president now directly owns 190,972 shares in the company, valued at approximately $31,023,401.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

About Applied Materials

(Free Report)

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.

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

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