Coastline Trust Co Cuts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Coastline Trust Co reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 52.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,335 shares of the manufacturing equipment provider’s stock after selling 1,480 shares during the quarter. Coastline Trust Co’s holdings in Applied Materials were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after acquiring an additional 1,509,439 shares during the period. WoodTrust Financial Corp increased its position in shares of Applied Materials by 47.0% during the 3rd quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock valued at $13,722,000 after purchasing an additional 21,699 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Applied Materials by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock worth $230,158,000 after purchasing an additional 15,183 shares during the period. Stiles Financial Services Inc boosted its holdings in shares of Applied Materials by 252.0% in the third quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock worth $957,000 after buying an additional 3,389 shares during the last quarter. Finally, GAMMA Investing LLC grew its position 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 during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

AMAT stock opened at $168.88 on Friday. Applied Materials, Inc. has a twelve month low of $141.94 and a twelve month high of $255.89. The firm has a market cap of $139.22 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.24 and a beta of 1.56. The business’s fifty day simple moving average is $190.88 and its two-hundred day simple moving average is $206.78. 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 announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share 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 net margin of 27.74% and a return on equity of 39.99%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. Analysts predict that Applied Materials, Inc. will post 8.51 earnings per share for the current 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 paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.95%. Applied Materials’s dividend payout ratio (DPR) is currently 17.98%.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Needham & Company LLC lowered their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Citigroup lowered their price objective on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Friday. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and an average price target of $219.81.

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.