Erste Asset Management GmbH Invests $92.53 Million in Applied Materials, Inc. (NASDAQ:AMAT)

Erste Asset Management GmbH bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 453,165 shares of the manufacturing equipment provider’s stock, valued at approximately $92,527,000. Applied Materials comprises about 1.1% of Erste Asset Management GmbH’s holdings, making the stock its 16th biggest holding.

Several other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of Applied Materials in the second quarter worth $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials during the 2nd quarter worth about $28,000. PSI Advisors LLC boosted its stake 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. Clean Yield Group bought a new position in shares of Applied Materials in the 3rd quarter valued at about $33,000. Finally, First PREMIER Bank increased its position in shares of Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 2.0 %

Shares of AMAT opened at $174.71 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $144.03 billion, a PE ratio of 20.29, a P/E/G ratio of 1.61 and a beta of 1.56. The firm’s 50 day moving average is $188.11 and its 200-day moving average is $204.50. Applied Materials, Inc. has a 12 month low of $144.57 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating 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 firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the previous year, the firm earned $2.12 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Dividend Announcement

The company 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. TD Cowen lowered their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. B. Riley dropped their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Evercore ISI lowered their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Finally, Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.48.

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.