Commerce Bank Raises Position in Applied Materials, Inc. (NASDAQ:AMAT)

Commerce Bank raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,518 shares of the manufacturing equipment provider’s stock after buying an additional 2,838 shares during the period. Commerce Bank’s holdings in Applied Materials were worth $10,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMAT. Summit Securities Group LLC acquired a new stake in Applied Materials in the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials during the second quarter worth about $28,000. Clean Yield Group acquired a new position in Applied Materials in the third quarter valued at approximately $33,000. First PREMIER Bank grew its position 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 acquiring an additional 124 shares during the period. Finally, PSI Advisors LLC increased its stake 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 acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 0.7 %

Shares of NASDAQ AMAT opened at $170.49 on Thursday. The stock has a fifty day moving average price of $190.26 and a 200 day moving average price of $206.19. 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, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89. The company has a market cap of $140.55 billion, a P/E ratio of 19.80, a P/E/G ratio of 2.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 earnings per share. Research analysts anticipate that Applied Materials, Inc. will post 9.52 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 yield of 0.94%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 18.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Morgan Stanley reduced their price target on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Susquehanna dropped their target price on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, 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. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Materials presently 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.