Pacer Advisors Inc. Increases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Pacer Advisors Inc. grew its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,185 shares of the manufacturing equipment provider’s stock after acquiring an additional 5,997 shares during the period. Pacer Advisors Inc.’s holdings in Applied Materials were worth $28,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Swedbank AB purchased a new stake in shares of Applied Materials in the first quarter worth about $773,611,000. Van ECK Associates Corp lifted its position in shares of Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after buying an additional 1,509,439 shares in the last quarter. Janus Henderson Group PLC increased its stake in Applied Materials by 126.4% during the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after acquiring an additional 1,259,111 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Applied Materials by 262.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock worth $280,951,000 after acquiring an additional 1,006,937 shares during the last quarter. Finally, EdgePoint Investment Group Inc. bought a new stake in Applied Materials during the first quarter worth approximately $162,873,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Down 0.5 %

Shares of NASDAQ:AMAT opened at $174.88 on Friday. Applied Materials, Inc. has a 52-week low of $144.57 and a 52-week high of $255.89. The stock has a market cap of $144.17 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.59 and a beta of 1.56. The business’s 50 day moving average is $189.83 and its 200 day moving average is $205.74. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. Applied Materials’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s dividend payout ratio is currently 18.58%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMAT shares. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Evercore ISI reduced their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Morgan Stanley reduced their price objective on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company reduced their price objective on Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Finally, B. Riley cut their target price 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 fourteen have issued a buy rating to the company. According to data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $222.05.

About Applied Materials

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.