Greenfield Savings Bank Boosts Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Greenfield Savings Bank grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,681 shares of the manufacturing equipment provider’s stock after acquiring an additional 344 shares during the quarter. Greenfield Savings Bank’s holdings in Applied Materials were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Applied Materials during the 2nd quarter worth $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials during the 2nd quarter worth $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Applied Materials in the 1st quarter worth about $26,000. PSI Advisors LLC boosted its holdings in shares of Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Applied Materials in the 1st quarter worth about $35,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, August 16th. Citigroup cut their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. B. Riley cut their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.90.

Applied Materials Trading Down 0.9 %

Shares of AMAT opened at $200.13 on Tuesday. The business’s 50-day moving average price is $194.49 and its 200-day moving average price is $209.98. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89. The stock has a market cap of $165.70 billion, a PE ratio of 23.00, a P/E/G 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 (NASDAQ:AMAT) last announced 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. 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 for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

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