GAM Holding AG Lowers Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

GAM Holding AG reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 24.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,257 shares of the manufacturing equipment provider’s stock after selling 7,342 shares during the quarter. GAM Holding AG’s holdings in Applied Materials were worth $4,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AMAT. Summit Securities Group LLC purchased a new stake in shares of Applied Materials in the second quarter valued at approximately $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials during the second quarter worth $28,000. Redmont Wealth Advisors LLC acquired a new position in Applied Materials during the first quarter worth $26,000. PSI Advisors LLC raised its holdings in Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Clean Yield Group acquired a new position in Applied Materials during the third quarter worth $33,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMAT. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. B. Riley cut their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a report on Friday, August 16th. Susquehanna dropped their target price on Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, UBS Group dropped their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Price Performance

AMAT opened at $183.00 on Wednesday. The stock has a fifty day moving average of $195.09 and a 200-day moving average of $208.93. The firm has a market capitalization of $151.52 billion, a P/E ratio of 21.03, a PEG ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Equities analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.87%. Applied Materials’s dividend payout ratio is currently 18.39%.

Applied Materials 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.