TFB Advisors LLC Sells 100 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

TFB Advisors LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,914 shares of the manufacturing equipment provider’s stock after selling 100 shares during the period. TFB Advisors LLC’s holdings in Applied Materials were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in Applied Materials during the first quarter valued at approximately $773,611,000. Van ECK Associates Corp boosted its position in Applied Materials by 29.8% during 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 acquiring an additional 1,509,439 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Applied Materials by 126.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after acquiring an additional 1,259,111 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Applied Materials by 262.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after acquiring an additional 1,006,937 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Applied Materials by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock worth $15,469,028,000 after acquiring an additional 891,446 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AMAT shares. Citigroup cut their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective 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. UBS Group decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company reduced their price target on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.14.

Applied Materials Trading Down 1.1 %

AMAT stock opened at $192.03 on Friday. The business’s 50-day moving average is $190.99 and its 200 day moving average is $207.30. Applied Materials, Inc. has a 12-month low of $141.94 and a 12-month high of $255.89. The stock has a market cap of $158.31 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 2.22 and a beta of 1.56. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the company earned $1.90 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 8.51 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.83%. Applied Materials’s payout ratio is 17.98%.

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.