Valmark Advisers Inc. Acquires 346 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Valmark Advisers Inc. raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 23.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,799 shares of the manufacturing equipment provider’s stock after acquiring an additional 346 shares during the quarter. Valmark Advisers Inc.’s holdings in Applied Materials were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Summit Securities Group LLC bought a new stake in Applied Materials during the second quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials in the 2nd quarter worth approximately $28,000. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter worth approximately $33,000. First PREMIER Bank lifted its holdings in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Applied Materials in the first quarter worth approximately $35,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 2.0 %

NASDAQ AMAT opened at $181.58 on Friday. 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. The firm has a market capitalization of $150.34 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.66 and a beta of 1.54. The company has a fifty day moving average of $192.04 and a two-hundred day moving average of $207.74.

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

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMAT shares. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research note on Tuesday, October 8th. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Stifel Nicolaus cut their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Mizuho lowered their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Morgan Stanley cut their price objective on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

Applied Materials Company 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.