Zions Bancorporation N.A. Has $387,000 Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Zions Bancorporation N.A. raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 26.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,917 shares of the manufacturing equipment provider’s stock after purchasing an additional 400 shares during the period. Zions Bancorporation N.A.’s holdings in Applied Materials were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of AMAT. Summit Securities Group LLC acquired a new stake in Applied Materials in the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in Applied Materials in the 2nd quarter valued at about $28,000. PSI Advisors LLC raised its position in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Clean Yield Group acquired a new position in shares of Applied Materials during the third quarter valued at $33,000. Finally, First PREMIER Bank lifted its position in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Wells Fargo & Company reduced their target price on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research note on Friday. Needham & Company LLC lowered their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday. Finally, Evercore ISI dropped their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $168.88 on Friday. The firm has a 50 day moving average of $191.00 and a 200-day moving average of $206.98. The stock has a market capitalization of $139.22 billion, a PE ratio of 19.43, a PEG ratio of 2.24 and a beta of 1.56. Applied Materials, Inc. has a 12 month low of $141.94 and a 12 month high of $255.89. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company earned $1.90 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Applied Materials, Inc. will post 8.51 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 17.98%.

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.