Investment Management Corp of Ontario Has $17.18 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Investment Management Corp of Ontario reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,038 shares of the manufacturing equipment provider’s stock after selling 4,090 shares during the quarter. Investment Management Corp of Ontario’s holdings in Applied Materials were worth $17,182,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in Applied Materials by 5.5% in the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock worth $3,316,269,000 after buying an additional 858,122 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Applied Materials by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock worth $1,790,554,000 after acquiring an additional 318,445 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Applied Materials by 29.8% in the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock valued at $1,327,707,000 after purchasing an additional 1,509,439 shares during the period. American Century Companies Inc. raised its stake in Applied Materials by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 5,084,186 shares of the manufacturing equipment provider’s stock valued at $1,199,817,000 after purchasing an additional 81,151 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Applied Materials by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,679,355 shares of the manufacturing equipment provider’s stock worth $945,464,000 after acquiring an additional 44,928 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Up 4.9 %

Shares of NASDAQ AMAT opened at $183.26 on Tuesday. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The firm’s 50 day simple moving average is $187.90 and its two-hundred day simple moving average is $204.19. The stock has a market capitalization of $151.08 billion, a P/E ratio of 21.28, a PEG ratio of 1.64 and a beta of 1.52.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm 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 business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.12 earnings per share. As a group, analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.87%. Applied Materials’s payout ratio is 18.58%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC dropped their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Evercore ISI cut their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company decreased their price objective on Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Finally, TD Cowen lowered their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.48.

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.