Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 625,561 shares of the manufacturing equipment provider’s stock after purchasing an additional 54,581 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Applied Materials worth $126,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Applied Materials in the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials in the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the 1st quarter valued at about $26,000. PSI Advisors LLC boosted its holdings in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Clean Yield Group acquired a new position in 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.

Applied Materials Trading Up 1.7 %

Shares of NASDAQ:AMAT opened at $186.36 on Monday. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The company’s 50 day moving average is $195.61 and its two-hundred day moving average is $209.24. 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 company 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.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating 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 company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm posted $1.90 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Applied Materials, Inc. will post 8.49 earnings per share 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. Stockholders of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMAT shares. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Stifel Nicolaus reduced their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Mizuho reduced their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. UBS Group reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Citigroup reduced their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. 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, Applied Materials 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.