Burns J W & Co. Inc. NY Has $2.67 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Burns J W & Co. Inc. NY reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,203 shares of the manufacturing equipment provider’s stock after selling 500 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Applied Materials were worth $2,668,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. jvl associates llc boosted its holdings in shares of Applied Materials by 4.4% during the third quarter. jvl associates llc now owns 1,362 shares of the manufacturing equipment provider’s stock worth $275,000 after purchasing an additional 57 shares during the period. Canandaigua National Bank & Trust Co. lifted its stake in Applied Materials by 5.1% in the third quarter. Canandaigua National Bank & Trust Co. now owns 3,944 shares of the manufacturing equipment provider’s stock valued at $797,000 after acquiring an additional 190 shares during the last quarter. Farmers Trust Co. lifted its stake in Applied Materials by 1.8% in the third quarter. Farmers Trust Co. now owns 3,435 shares of the manufacturing equipment provider’s stock valued at $694,000 after acquiring an additional 62 shares during the last quarter. Czech National Bank lifted its stake in Applied Materials by 6.5% in the third quarter. Czech National Bank now owns 168,667 shares of the manufacturing equipment provider’s stock valued at $34,079,000 after acquiring an additional 10,331 shares during the last quarter. Finally, Trust Co of the South acquired a new stake in Applied Materials in the third quarter valued at approximately $242,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMAT shares. Stifel Nicolaus reduced their target price on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Wells Fargo & Company reduced their target price on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday. UBS Group reduced 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 note on Thursday, September 12th. Finally, Mizuho reduced their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $228.90.

Applied Materials Stock Performance

AMAT stock traded up $2.38 on Friday, reaching $201.97. 4,134,027 shares of the company were exchanged, compared to its average volume of 6,073,735. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The stock’s fifty day moving average price is $194.49 and its 200 day moving average price is $209.89. The firm has a market capitalization of $167.23 billion, a PE ratio of 23.21, a PEG ratio of 2.30 and a beta of 1.54. 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 announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion for 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%. Applied Materials’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. On average, 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 declared 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. This represents a $1.60 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) 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.