Gabelli Funds LLC Purchases New Holdings in Applied Materials, Inc. (AMAT)

Gabelli Funds LLC purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 86,000 shares of the manufacturing equipment provider’s stock, valued at approximately $4,480,000.

Several other institutional investors also recently modified their holdings of the stock. Two Sigma Securities LLC bought a new position in Applied Materials in the first quarter valued at approximately $465,000. Level Four Advisory Services LLC acquired a new stake in shares of Applied Materials during the first quarter worth $233,000. Sii Investments Inc. WI acquired a new stake in shares of Applied Materials during the first quarter worth $294,000. Kingdon Capital Management L.L.C. acquired a new stake in shares of Applied Materials during the first quarter worth $20,169,000. Finally, Investment Centers of America Inc. acquired a new stake in shares of Applied Materials during the first quarter worth $230,000. 79.35% of the stock is owned by institutional investors and hedge funds.

Applied Materials, Inc. (NASDAQ AMAT) opened at $56.36 on Monday. Applied Materials, Inc. has a 12 month low of $28.24 and a 12 month high of $57.34. The firm has a market cap of $60,110.00, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.85. The company has a quick ratio of 2.25, a current ratio of 2.91 and a debt-to-equity ratio of 0.61.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. equities research analysts anticipate that Applied Materials, Inc. will post 3.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. Applied Materials’s dividend payout ratio is currently 14.18%.

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In other news, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Karsner sold 22,762 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Several equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $61.00 price target on shares of Applied Materials in a research note on Saturday, August 19th. Instinet reiterated a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of Applied Materials in a research note on Saturday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $76.00 price target (up from $60.00) on shares of Applied Materials in a research note on Thursday, September 28th. Stifel Nicolaus reiterated a “buy” rating on shares of Applied Materials in a research note on Sunday, October 1st. Finally, Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price objective on the stock in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and an average target price of $56.64.

Applied Materials Profile

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

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