CCM Investment Advisers LLC Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

CCM Investment Advisers LLC decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,735 shares of the manufacturing equipment provider’s stock after selling 2,042 shares during the quarter. Applied Materials makes up approximately 1.9% of CCM Investment Advisers LLC’s portfolio, making the stock its 18th biggest position. CCM Investment Advisers LLC’s holdings in Applied Materials were worth $16,919,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMAT. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials during the first quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in Applied Materials during the second quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials in the second quarter valued at approximately $28,000. Clean Yield Group purchased a new stake in Applied Materials in the third quarter valued at approximately $33,000. Finally, First PREMIER Bank lifted its stake in 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 buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 0.5 %

Shares of AMAT stock opened at $203.96 on Friday. The business’s fifty day moving average price is $194.48 and its 200 day moving average price is $209.76. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The firm has a market capitalization of $168.14 billion, a PE ratio of 22.92, a P/E/G ratio of 2.66 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Applied Materials’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Announces Dividend

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 0.78%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 17.98%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMAT. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a research note on Friday, August 16th. Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Wells Fargo & Company reduced their price objective on Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, B. Riley reduced their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and an average target price of $228.90.

Get Our Latest Report on Applied Materials

Applied Materials Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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