Prudential Financial Inc. increased its stake in shares of Applied Materials Inc. (NASDAQ:AMAT) by 242.3% during the third quarter, Holdings Channel reports. The fund owned 5,346,423 shares of the manufacturing equipment provider’s stock after buying an additional 3,784,398 shares during the period. Prudential Financial Inc.’s holdings in Applied Materials were worth $161,195,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMAT. Global X Management Co. LLC boosted its stake in shares of Applied Materials by 8,148.7% in the third quarter. Global X Management Co. LLC now owns 12,868 shares of the manufacturing equipment provider’s stock valued at $388,000 after buying an additional 12,712 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Applied Materials by 143.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 16,185 shares of the manufacturing equipment provider’s stock valued at $488,000 after buying an additional 9,549 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Applied Materials by 6.5% in the third quarter. M&T Bank Corp now owns 399,370 shares of the manufacturing equipment provider’s stock valued at $12,041,000 after buying an additional 24,495 shares during the last quarter. Delta Lloyd NV boosted its stake in shares of Applied Materials by 16.5% in the third quarter. Delta Lloyd NV now owns 84,446 shares of the manufacturing equipment provider’s stock valued at $2,546,000 after buying an additional 11,942 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Applied Materials by 867.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,436,582 shares of the manufacturing equipment provider’s stock valued at $103,611,000 after buying an additional 3,081,415 shares during the last quarter. 80.36% of the stock is owned by institutional investors.

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

Applied Materials Inc. (NASDAQ:AMAT) opened at 31.84 on Tuesday. The company has a market capitalization of $34.42 billion, a price-to-earnings ratio of 20.68 and a beta of 1.86. Applied Materials Inc. has a 12-month low of $15.44 and a 12-month high of $32.16. The stock has a 50 day moving average price of $29.28 and a 200-day moving average price of $27.16.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. The firm earned $3.30 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 39.2% compared to the same quarter last year. Equities analysts predict that Applied Materials Inc. will post $2.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s payout ratio is 25.64%.

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Several equities research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $38.00 price target on shares of Applied Materials in a research note on Wednesday, November 23rd. Vetr cut Applied Materials from a “strong-buy” rating to a “buy” rating and set a $35.25 price target for the company. in a research note on Tuesday, November 22nd. Bank of America Corp. set a $35.00 price target on Applied Materials and gave the company a “buy” rating in a research note on Saturday, November 19th. Cowen and Company reissued an “outperform” rating and issued a $32.50 price target on shares of Applied Materials in a research note on Friday, November 18th. Finally, Deutsche Bank AG restated a “buy” rating and set a $33.00 target price on shares of Applied Materials in a research report on Friday, November 18th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.95.

In related news, VP Omkaram Nalamasu sold 99,491 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $30.15, for a total value of $2,999,653.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary E. Dickerson sold 229,935 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $29.71, for a total transaction of $6,831,368.85. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

About Applied Materials

Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.

5 Day Chart for NASDAQ:AMAT

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