OLD National Bancorp IN Sells 867 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

OLD National Bancorp IN trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,273 shares of the manufacturing equipment provider’s stock after selling 867 shares during the quarter. OLD National Bancorp IN’s holdings in Applied Materials were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Applied Materials by 76.9% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in Applied Materials in the 3rd quarter worth $39,000. MCF Advisors LLC increased its stake in Applied Materials by 333.8% in the 3rd quarter. MCF Advisors LLC now owns 295 shares of the manufacturing equipment provider’s stock worth $41,000 after buying an additional 227 shares in the last quarter. L2 Asset Management LLC increased its stake in Applied Materials by 795.0% in the 3rd quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock worth $41,000 after buying an additional 26,298 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Applied Materials in the 3rd quarter worth $42,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Down 0.2 %

Shares of NASDAQ AMAT opened at $189.46 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.71 and a quick ratio of 1.91. The company has a market cap of $157.42 billion, a P/E ratio of 22.29, a PEG ratio of 2.84 and a beta of 1.59. Applied Materials, Inc. has a 1 year low of $109.15 and a 1 year high of $214.91. The firm has a 50-day simple moving average of $202.69 and a two-hundred day simple moving average of $170.38.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.23. The business had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.03 earnings per share. Research analysts anticipate that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a yield of 0.84%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Raymond James increased their price target on Applied Materials from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Bank Of America (Bofa) increased their price target on Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Needham & Company LLC increased their price objective on shares of Applied Materials from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus increased their price objective on shares of Applied Materials from $175.00 to $230.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Barclays increased their price objective on shares of Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.50.

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.