McGuire Investment Group LLC Sells 1,289 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

McGuire Investment Group LLC lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 122,932 shares of the manufacturing equipment provider’s stock after selling 1,289 shares during the period. Applied Materials makes up about 3.5% of McGuire Investment Group LLC’s holdings, making the stock its 7th largest position. McGuire Investment Group LLC’s holdings in Applied Materials were worth $24,838,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMAT. First National Bank of Mount Dora Trust Investment Services bought a new stake in Applied Materials during the 1st quarter worth approximately $1,764,000. GAMMA Investing LLC raised its position in Applied Materials by 89.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after buying an additional 4,239 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Applied Materials by 5.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after acquiring an additional 126 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Applied Materials by 5.4% during the 1st quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock worth $699,000 after acquiring an additional 172 shares during the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Applied Materials in the 1st quarter worth $243,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Price Performance

AMAT traded up $1.10 on Friday, reaching $205.06. The company had a trading volume of 2,604,134 shares, compared to its average volume of 6,010,298. 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 $129.21 and a 52-week high of $255.89. The company has a market cap of $169.78 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.66 and a beta of 1.54. The business has a 50 day simple moving average of $194.94 and a 200 day simple moving average of $209.76.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the firm posted $1.90 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. Applied Materials’s payout ratio is 18.39%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Susquehanna reduced their price objective on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Morgan Stanley reduced their price objective on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. Finally, StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Company Profile

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.