Zurcher Kantonalbank Zurich Cantonalbank Has $203.33 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,006,353 shares of the manufacturing equipment provider’s stock after buying an additional 7,331 shares during the period. Applied Materials comprises about 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 21st biggest holding. Zurcher Kantonalbank Zurich Cantonalbank owned 0.12% of Applied Materials worth $203,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. WASHINGTON TRUST Co increased its holdings in Applied Materials by 3.3% in the second quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock worth $367,000 after buying an additional 49 shares during the last quarter. Optimum Investment Advisors increased its stake in shares of Applied Materials by 1.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock worth $948,000 after purchasing an additional 50 shares during the last quarter. SlateStone Wealth LLC raised its holdings in shares of Applied Materials by 4.7% during the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock valued at $261,000 after purchasing an additional 50 shares in the last quarter. Forum Financial Management LP lifted its stake in shares of Applied Materials by 0.6% in the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after purchasing an additional 53 shares during the last quarter. Finally, Northwest Investment Counselors LLC boosted its holdings in Applied Materials by 0.9% in the second quarter. Northwest Investment Counselors LLC now owns 6,090 shares of the manufacturing equipment provider’s stock worth $1,437,000 after purchasing an additional 54 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Down 1.1 %

AMAT opened at $171.32 on Thursday. The company has a market capitalization of $141.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.64 and a beta of 1.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The firm’s fifty day moving average price is $188.97 and its two-hundred day moving average price is $204.99. Applied Materials, Inc. has a fifty-two week low of $144.57 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 EPS. On average, analysts anticipate that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Analyst Ratings Changes

A number of analysts have weighed in on AMAT shares. JPMorgan Chase & Co. boosted their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Needham & Company LLC lowered their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. UBS Group reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Citigroup decreased their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.05.

Applied Materials 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.