Massachusetts Financial Services Co. MA reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,925,664 shares of the manufacturing equipment provider’s stock after selling 33,637 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.32% of Applied Materials worth $145,991,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMAT. Northwest Investment Counselors LLC acquired a new stake in shares of Applied Materials during the 3rd quarter worth about $29,000. Next Capital Management LLC acquired a new stake in Applied Materials during the 2nd quarter worth approximately $35,000. Horan Capital Advisors LLC. acquired a new stake in Applied Materials during the 3rd quarter worth approximately $39,000. Sandy Spring Bank boosted its position in Applied Materials by 57.4% during the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after buying an additional 287 shares during the period. Finally, Coastal Capital Group Inc. acquired a new stake in Applied Materials during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 78.95% of the company’s stock.

AMAT stock traded down $0.07 during midday trading on Thursday, reaching $57.05. 97,873 shares of the company’s stock traded hands, compared to its average volume of 6,594,164. The company has a market cap of $52.28 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 3.44 and a beta of 1.66. The firm’s fifty day moving average price is $52.94 and its 200-day moving average price is $47.18. The company has a quick ratio of 1.72, a current ratio of 2.65 and a debt-to-equity ratio of 0.65. Applied Materials, Inc. has a 52 week low of $28.79 and a 52 week high of $57.38.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the business posted $1.20 EPS. Applied Materials’s quarterly revenue was down 14.4% on a year-over-year basis. Analysts forecast that Applied Materials, Inc. will post 3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a yield of 1.47%. Applied Materials’s dividend payout ratio is presently 18.88%.

In other Applied Materials news, Director Dennis D. Powell sold 25,218 shares of Applied Materials stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total value of $1,340,891.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,945 shares of company stock worth $2,776,105. 0.44% of the stock is owned by insiders.

AMAT has been the topic of several recent research reports. Wells Fargo & Co reiterated a “buy” rating and set a $62.00 target price (down from $68.00) on shares of Applied Materials in a research report on Monday. Deutsche Bank lifted their target price on shares of Applied Materials from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Susquehanna Bancshares set a $60.00 price target on shares of Applied Materials and gave the stock a “buy” rating in a research report on Friday, August 16th. BidaskClub upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Craig Hallum upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $58.00 in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $54.32.

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

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