Progressive Investment Management Corp Sells 65 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Progressive Investment Management Corp decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,576 shares of the manufacturing equipment provider’s stock after selling 65 shares during the quarter. Progressive Investment Management Corp’s holdings in Applied Materials were worth $3,955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMAT. Summit Securities Group LLC bought a new stake in Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of Applied Materials during the second quarter worth approximately $28,000. PSI Advisors LLC lifted its holdings in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the period. Clean Yield Group acquired a new stake in Applied Materials during the 3rd quarter worth $33,000. Finally, First PREMIER Bank lifted its stake in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Down 0.5 %

NASDAQ AMAT opened at $168.40 on Wednesday. Applied Materials, Inc. has a 12 month low of $144.57 and a 12 month high of $255.89. The company has a market cap of $138.83 billion, a PE ratio of 19.66, a PEG ratio of 2.07 and a beta of 1.56. The stock has a 50 day moving average of $190.57 and a 200-day moving average of $206.44. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, equities research analysts anticipate that Applied Materials, Inc. will post 9.52 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Applied Materials’s dividend payout ratio is presently 18.58%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMAT shares. Susquehanna dropped their price objective on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. TD Cowen cut their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. UBS Group decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research note on Friday, November 15th. Finally, Bank of America reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Company 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.