Sierra Capital LLC Makes New Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Sierra Capital LLC acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,664 shares of the manufacturing equipment provider’s stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. Vicus Capital bought a new position in Applied Materials in the third quarter valued at $290,000. Harbor Advisory Corp MA bought a new position in shares of Applied Materials in the 3rd quarter valued at about $232,000. Home Federal Bank of Tennessee increased its position in shares of Applied Materials by 16.3% in the third quarter. Home Federal Bank of Tennessee now owns 1,425 shares of the manufacturing equipment provider’s stock valued at $288,000 after acquiring an additional 200 shares during the last quarter. Oakworth Capital Inc. raised its holdings in Applied Materials by 7.6% during the third quarter. Oakworth Capital Inc. now owns 2,998 shares of the manufacturing equipment provider’s stock worth $606,000 after acquiring an additional 212 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its position in Applied Materials by 11.4% during the third quarter. Foundations Investment Advisors LLC now owns 5,771 shares of the manufacturing equipment provider’s stock valued at $1,166,000 after purchasing an additional 589 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMAT. UBS Group cut their price objective on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Wells Fargo & Company decreased their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Applied Materials in a research note on Friday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. Finally, Susquehanna cut their price objective on Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

Applied Materials Trading Down 0.2 %

Applied Materials stock traded down $0.41 during trading hours on Tuesday, hitting $184.05. The stock had a trading volume of 2,631,172 shares, compared to its average volume of 6,077,886. The stock has a market cap of $152.39 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.66 and a beta of 1.54. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $195.44 and its 200-day simple moving average is $209.11. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. On average, equities analysts predict that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 18.39%.

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.