Orrstown Financial Services Inc. Has $1.06 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Orrstown Financial Services Inc. increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,535 shares of the manufacturing equipment provider’s stock after acquiring an additional 143 shares during the period. Orrstown Financial Services Inc.’s holdings in Applied Materials were worth $1,063,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Forum Financial Management LP increased its holdings in shares of Applied Materials by 0.6% in the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock worth $1,847,000 after purchasing an additional 53 shares in the last quarter. Sargent Investment Group LLC grew its stake in shares of Applied Materials by 4.0% in the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after acquiring an additional 55 shares during the period. Biltmore Family Office LLC raised its holdings in shares of Applied Materials by 5.3% during the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after purchasing an additional 55 shares during the last quarter. Field & Main Bank lifted its position in Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after purchasing an additional 55 shares during the period. Finally, waypoint wealth counsel boosted its holdings in Applied Materials by 3.1% in the third quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider’s stock worth $374,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT traded up $2.51 during trading on Wednesday, hitting $175.36. 904,597 shares of the stock were exchanged, compared to its average volume of 6,573,504. The firm has a market capitalization of $142.52 billion, a P/E ratio of 20.35, a PEG ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a 1-year low of $158.96 and a 1-year high of $255.89. The stock has a fifty day moving average price of $174.15 and a two-hundred day moving average price of $187.64. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the business earned $2.12 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is currently 18.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMAT shares. Sanford C. Bernstein reduced their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Needham & Company LLC lowered their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Bank of America reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a research note on Friday, January 17th. Finally, Stifel Nicolaus cut their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

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.