Alps Advisors Inc. Sells 7,389 Shares of Applied Materials, Inc. (AMAT)

Alps Advisors Inc. decreased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 33.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,788 shares of the manufacturing equipment provider’s stock after selling 7,389 shares during the period. Alps Advisors Inc.’s holdings in Applied Materials were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMAT. Alpha Cubed Investments LLC boosted its position in shares of Applied Materials by 33.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 51,848 shares of the manufacturing equipment provider’s stock valued at $1,778,000 after purchasing an additional 12,989 shares in the last quarter. Global Thematic Partners LLC bought a new stake in shares of Applied Materials during the 3rd quarter valued at about $105,571,000. Wright Investors Service Inc. bought a new stake in shares of Applied Materials during the 3rd quarter valued at about $2,190,000. Pillar Pacific Capital Management LLC boosted its position in shares of Applied Materials by 2.2% during the 3rd quarter. Pillar Pacific Capital Management LLC now owns 235,209 shares of the manufacturing equipment provider’s stock valued at $9,092,000 after purchasing an additional 5,117 shares in the last quarter. Finally, Exane Derivatives boosted its position in shares of Applied Materials by 302.5% during the 3rd quarter. Exane Derivatives now owns 18,487 shares of the manufacturing equipment provider’s stock valued at $717,000 after purchasing an additional 13,894 shares in the last quarter. 77.35% of the stock is owned by institutional investors.

Shares of NASDAQ:AMAT opened at $35.27 on Monday. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.67 and a current ratio of 2.52. Applied Materials, Inc. has a 52-week low of $30.53 and a 52-week high of $62.40.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.42 billion. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities research analysts anticipate that Applied Materials, Inc. will post 4.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be issued a $0.20 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $0.80 annualized dividend and a yield of 2.27%. Applied Materials’s payout ratio is currently 24.62%.

Several brokerages recently commented on AMAT. BidaskClub upgraded Applied Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Susquehanna Bancshares cut their target price on Applied Materials from $65.00 to $60.00 and set a “positive” rating on the stock in a research report on Wednesday, October 3rd. Bank of America cut their target price on Applied Materials from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. Citigroup cut their target price on Applied Materials from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. Finally, Nomura cut their target price on Applied Materials from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, August 20th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $59.50.

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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