Bangor Savings Bank Trims Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Bangor Savings Bank cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,962 shares of the manufacturing equipment provider’s stock after selling 1,081 shares during the quarter. Bangor Savings Bank’s holdings in Applied Materials were worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in Applied Materials in the second quarter worth $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials during the second quarter valued at $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Applied Materials in the first quarter worth approximately $26,000. PSI Advisors LLC increased its position in shares of Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Applied Materials in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 0.9 %

NASDAQ AMAT opened at $200.13 on Tuesday. The stock’s 50-day moving average price is $194.49 and its 200-day moving average price is $209.98. The company has a market capitalization of $165.70 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 2.30 and a beta of 1.54. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89.

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

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMAT. Stifel Nicolaus cut their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Wells Fargo & Company lowered their target price on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Citigroup lowered their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.90.

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.