OLD National Bancorp IN Raises Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

OLD National Bancorp IN increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,050 shares of the manufacturing equipment provider’s stock after acquiring an additional 140 shares during the period. OLD National Bancorp IN’s holdings in Applied Materials were worth $2,637,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AMAT. Summit Securities Group LLC purchased a new position in Applied Materials in the second quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in Applied Materials in the second quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials during the first quarter worth approximately $26,000. PSI Advisors LLC lifted its position in shares of Applied Materials by 56.0% during 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, Clean Yield Group purchased a new stake in shares of Applied Materials in the 3rd quarter valued at about $33,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMAT shares. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. UBS Group lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. B. Riley lowered their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Morgan Stanley cut their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company decreased their price target on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $186.36 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The firm has a market cap of $154.30 billion, a PE ratio of 21.42, a P/E/G ratio of 2.66 and a beta of 1.54. The firm has a 50 day simple moving average of $195.61 and a 200-day simple moving average of $209.24. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year 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. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the firm posted $1.90 EPS. Applied Materials’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently declared 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 yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 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.