Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 778,771 shares of the manufacturing equipment provider’s stock after buying an additional 48,395 shares during the quarter. Thrivent Financial for Lutherans owned 0.09% of Applied Materials worth $183,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AMAT. JT Stratford LLC grew its holdings in shares of Applied Materials by 0.4% in the 1st 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 during the period. Financial Management Professionals Inc. lifted its stake in Applied Materials by 5.6% in the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock valued at $191,000 after buying an additional 49 shares in the last quarter. WASHINGTON TRUST Co lifted its stake in Applied Materials by 3.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock valued at $367,000 after buying an additional 49 shares in the last quarter. Optimum Investment Advisors lifted its stake in Applied Materials by 1.3% in the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after buying an additional 50 shares in the last quarter. Finally, SlateStone Wealth LLC lifted its stake in Applied Materials by 4.7% in the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock valued at $261,000 after buying an additional 50 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Down 2.3 %

Shares of NASDAQ AMAT opened at $192.16 on Friday. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89. The company has a market cap of $159.10 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.21 and a beta of 1.55. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $198.35 and a 200 day moving average price of $210.16.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (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 firm earned $1.90 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. Applied Materials’s dividend payout ratio is presently 18.39%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Morgan Stanley reduced their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Citigroup reduced their price target 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. Finally, B. Riley reduced their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $231.05.

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.