Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Stiles Financial Services Inc

Stiles Financial Services Inc increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 252.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,734 shares of the manufacturing equipment provider’s stock after buying an additional 3,389 shares during the period. Stiles Financial Services Inc’s holdings in Applied Materials were worth $957,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new stake in shares of Applied Materials during the first quarter valued at approximately $57,000. PFG Advisors raised its holdings in Applied Materials by 42.7% during the first quarter. PFG Advisors now owns 2,554 shares of the manufacturing equipment provider’s stock valued at $527,000 after buying an additional 764 shares in the last quarter. Hansen & Associates Financial Group Inc. bought a new position in Applied Materials during the first quarter valued at about $3,245,000. Algebris UK Ltd grew its position in shares of Applied Materials by 0.6% in the first quarter. Algebris UK Ltd now owns 205,004 shares of the manufacturing equipment provider’s stock valued at $42,278,000 after purchasing an additional 1,271 shares during the last quarter. Finally, Benedetti & Gucer Inc. acquired a new stake in shares of Applied Materials in the first quarter valued at about $209,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMAT shares. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Tuesday, October 8th. Citigroup lowered their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and an average target price of $229.14.

Applied Materials Price Performance

AMAT stock opened at $193.56 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials, Inc. has a 52 week low of $141.94 and a 52 week high of $255.89. The firm’s fifty day moving average is $191.07 and its 200 day moving average is $207.37. The firm has a market cap of $159.57 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.22 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the company posted $1.90 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts predict that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. Applied Materials’s dividend payout ratio is currently 17.98%.

About Applied Materials

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.