BNP Paribas Lowers Stake in Applied Materials, Inc. (NASDAQ:AMAT)

BNP Paribas decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 190,772 shares of the manufacturing equipment provider’s stock after selling 10,375 shares during the period. Applied Materials accounts for approximately 1.6% of BNP Paribas’ portfolio, making the stock its 13th largest holding. BNP Paribas’ holdings in Applied Materials were worth $38,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMAT. B. Riley Wealth Advisors Inc. grew its holdings in Applied Materials by 8.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 15,703 shares of the manufacturing equipment provider’s stock valued at $3,238,000 after purchasing an additional 1,218 shares during the period. Redwood Investment Management LLC purchased a new stake in shares of Applied Materials during the 1st quarter valued at $907,000. Creekmur Asset Management LLC raised its position in shares of Applied Materials by 173.6% in the 1st quarter. Creekmur Asset Management LLC now owns 301 shares of the manufacturing equipment provider’s stock worth $62,000 after buying an additional 191 shares during the period. Beacon Capital Management LLC boosted its holdings in Applied Materials by 94.3% in the first quarter. Beacon Capital Management LLC now owns 583 shares of the manufacturing equipment provider’s stock valued at $120,000 after acquiring an additional 283 shares during the last quarter. Finally, First Western Trust Bank purchased a new stake in Applied Materials during the first quarter valued at about $218,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Trading Down 0.8 %

NASDAQ:AMAT opened at $173.20 on Wednesday. The company has a market cap of $142.79 billion, a PE ratio of 20.12, a P/E/G ratio of 1.64 and a beta of 1.56. The business’s 50 day moving average is $189.26 and its two-hundred day moving average is $205.23. 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, Inc. has a 52 week low of $144.57 and a 52 week 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 (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 firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same period last year, the business posted $2.12 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts predict that Applied Materials, Inc. will post 9.5 EPS 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 paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.92%. Applied Materials’s dividend payout ratio (DPR) is 18.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMAT shares. Susquehanna dropped their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Morgan Stanley dropped their price objective on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. TD Cowen decreased their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Finally, Dbs Bank downgraded Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average target price 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.