Applied Materials, Inc. (AMAT) Shares Bought by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 15.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,000 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Applied Materials were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brown Advisory Inc. boosted its stake in Applied Materials by 59.1% in the 1st quarter. Brown Advisory Inc. now owns 33,260 shares of the manufacturing equipment provider’s stock valued at $1,849,000 after purchasing an additional 12,359 shares during the period. Private Trust Co. NA bought a new stake in Applied Materials in the 2nd quarter valued at $636,000. Washington Trust Bank boosted its stake in Applied Materials by 2.9% in the 2nd quarter. Washington Trust Bank now owns 152,144 shares of the manufacturing equipment provider’s stock valued at $7,028,000 after purchasing an additional 4,332 shares during the period. Bangor Savings Bank bought a new stake in Applied Materials in the 2nd quarter valued at $1,247,000. Finally, DnB Asset Management AS boosted its stake in Applied Materials by 2.9% in the 2nd quarter. DnB Asset Management AS now owns 223,835 shares of the manufacturing equipment provider’s stock valued at $10,339,000 after purchasing an additional 6,300 shares during the period. Institutional investors own 77.35% of the company’s stock.

AMAT has been the subject of several recent research reports. Citigroup reduced their price target on Applied Materials from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, July 13th. Bank of America reduced their price target on Applied Materials from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 17th. B. Riley reduced their price target on Applied Materials from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Deutsche Bank reduced their price target on Applied Materials from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Finally, Stifel Nicolaus reduced their price target on Applied Materials from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $59.50.

NASDAQ:AMAT opened at $31.12 on Tuesday. The firm has a market cap of $31.81 billion, a PE ratio of 9.58, a P/E/G ratio of 0.85 and a beta of 1.49. The company has a quick ratio of 1.67, a current ratio of 2.52 and a debt-to-equity ratio of 0.78. Applied Materials, Inc. has a fifty-two week low of $30.53 and a fifty-two week high of $62.40.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.42 billion. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. On average, research analysts expect that Applied Materials, Inc. will post 4.45 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. Applied Materials’s payout ratio is 24.62%.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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

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