Cheviot Value Management LLC Sells 200 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Cheviot Value Management LLC reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,351 shares of the manufacturing equipment provider’s stock after selling 200 shares during the period. Cheviot Value Management LLC’s holdings in Applied Materials were worth $1,263,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. JT Stratford LLC raised its position in Applied Materials by 0.4% during the first quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock worth $2,246,000 after acquiring an additional 48 shares in the last quarter. Financial Management Professionals Inc. raised its position in Applied Materials by 5.6% during the first quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock worth $191,000 after acquiring an additional 49 shares in the last quarter. WASHINGTON TRUST Co raised its position in Applied Materials by 3.3% during the second quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock worth $367,000 after acquiring an additional 49 shares in the last quarter. Optimum Investment Advisors raised its position in Applied Materials by 1.3% during the second quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock worth $948,000 after acquiring an additional 50 shares in the last quarter. Finally, SlateStone Wealth LLC raised its position in Applied Materials by 4.7% during the second quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after acquiring an additional 50 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on AMAT shares. JPMorgan Chase & Co. upped their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Citigroup decreased their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Stifel Nicolaus decreased their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Mizuho decreased their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Eight investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $231.05.

Applied Materials Stock Up 1.0 %

Shares of NASDAQ AMAT opened at $194.04 on Tuesday. The company has a 50 day simple moving average of $197.32 and a 200 day simple moving average of $210.04. The firm has a market cap of $160.66 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $1.90 EPS. On average, research analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 18.39%.

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.