Roanoke Asset Management Corp NY Reduces Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Roanoke Asset Management Corp NY cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,055 shares of the manufacturing equipment provider’s stock after selling 200 shares during the quarter. Applied Materials accounts for 4.1% of Roanoke Asset Management Corp NY’s portfolio, making the stock its 3rd largest holding. Roanoke Asset Management Corp NY’s holdings in Applied Materials were worth $13,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Applied Materials by 89.3% during the second 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 in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Applied Materials by 5.7% in 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. Avantax Advisory Services Inc. boosted its stake in Applied Materials by 17.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 23,949 shares of the manufacturing equipment provider’s stock worth $4,939,000 after purchasing an additional 3,529 shares during the period. Smithbridge Asset Management Inc. DE grew its position in Applied Materials by 16.1% during the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 51,272 shares of the manufacturing equipment provider’s stock worth $10,360,000 after purchasing an additional 7,094 shares in the last quarter. Finally, L & S Advisors Inc acquired a new stake in Applied Materials during the 2nd quarter valued at $3,069,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $183.38 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $191.65 and a 200 day moving average price of $207.58. The company has a market cap of $151.18 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.53 and a beta of 1.54. Applied Materials, Inc. has a twelve month low of $136.67 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results 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 business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Applied Materials’s 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.87%. Applied Materials’s dividend payout ratio is 17.98%.

Analysts Set New Price Targets

AMAT has been the subject of several recent analyst reports. Citigroup decreased their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. JPMorgan Chase & Co. raised their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Mizuho lowered their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Morgan Stanley decreased their target price on shares of 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. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.