TCV Trust & Wealth Management Inc. Cuts Position in Applied Materials, Inc. (NASDAQ:AMAT)

TCV Trust & Wealth Management Inc. cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,988 shares of the manufacturing equipment provider’s stock after selling 171 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Applied Materials were worth $1,210,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMAT. Summit Securities Group LLC purchased a new position in Applied Materials in the second quarter valued at about $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of Applied Materials in the 2nd quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in Applied Materials in the first quarter valued at approximately $26,000. PSI Advisors LLC grew 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 valued at $37,000 after purchasing an additional 56 shares during the period. Finally, Clean Yield Group purchased a new stake in Applied Materials in the third quarter worth $33,000. 80.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMAT has been the topic of a number of recent research reports. Susquehanna dropped their price target on Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. UBS Group dropped their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Citigroup reduced their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

Applied Materials Stock Up 1.5 %

Shares of NASDAQ:AMAT opened at $186.52 on Friday. The firm has a market capitalization of $154.43 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. 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 firm has a fifty day moving average of $193.72 and a 200 day moving average of $208.41.

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. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. As a group, research analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

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.