Ferguson Wellman Capital Management Inc. Lowers Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Ferguson Wellman Capital Management Inc. cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 12.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,998 shares of the manufacturing equipment provider’s stock after selling 2,456 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Applied Materials were worth $3,636,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Applied Materials in the second quarter worth about $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials in the second quarter worth about $28,000. Clean Yield Group purchased a new position in Applied Materials in the third quarter worth about $33,000. First PREMIER Bank raised its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Applied Materials in the first quarter worth approximately $35,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Shares of AMAT traded up $2.73 during mid-day trading on Thursday, reaching $185.52. The stock had a trading volume of 1,340,161 shares, compared to its average volume of 6,044,357. The firm has a market cap of $152.94 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.29 and a beta of 1.56. Applied Materials, Inc. has a 12 month low of $141.94 and a 12 month high of $255.89. The business has a fifty day moving average of $190.88 and a 200 day moving average of $207.13. 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 (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Applied Materials, Inc. will post 8.51 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.40 dividend. 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 17.98%.

Wall Street Analysts Forecast Growth

AMAT has been the subject of a number of research analyst reports. Mizuho reduced their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Susquehanna reduced their price target on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley reduced their price target 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. UBS Group reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.24.

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.