VeraBank N.A. purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,262 shares of the manufacturing equipment provider’s stock, valued at approximately $213,000.
Several other large investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new position in Applied Materials during the first quarter worth $27,000. Front Row Advisors LLC increased its position in Applied Materials by 283.6% during the first quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 607 shares during the period. Sandy Spring Bank increased its position in Applied Materials by 57.4% during the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after acquiring an additional 287 shares during the period. Next Capital Management LLC bought a new position in Applied Materials during the second quarter worth $35,000. Finally, Coastal Capital Group Inc. bought a new position in Applied Materials during the second quarter worth $36,000. 78.70% of the stock is currently owned by institutional investors.
In related news, SVP Steve G. Ghanayem sold 25,727 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total transaction of $1,340,891.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis D. Powell sold 25,218 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,945 shares of company stock valued at $2,776,105. 0.44% of the stock is currently owned by company insiders.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. Applied Materials’s revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 EPS. Sell-side analysts anticipate that Applied Materials, Inc. will post 3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.61%. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.
A number of equities analysts recently issued reports on AMAT shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $54.00 target price on shares of Applied Materials in a research report on Wednesday, August 14th. Cowen reaffirmed an “outperform” rating and set a $55.00 target price (up previously from $53.00) on shares of Applied Materials in a research report on Friday, August 16th. Susquehanna Bancshares set a $60.00 target price on shares of Applied Materials and gave the stock a “buy” rating in a research report on Friday, August 16th. Craig Hallum raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus set a $57.00 price target on shares of Applied Materials and gave the stock a “buy” rating in a research note on Monday, August 26th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $52.10.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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