Entropy Technologies LP Acquires Shares of 4,700 Applied Materials, Inc. (NASDAQ:AMAT)

Entropy Technologies LP bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,700 shares of the manufacturing equipment provider’s stock, valued at approximately $950,000.

A number of other institutional investors have also recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in Applied Materials during the second quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials during the 2nd quarter worth approximately $28,000. Clean Yield Group purchased a new position in shares of Applied Materials during the 3rd quarter valued at approximately $33,000. First PREMIER Bank grew its stake in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials in the 1st quarter worth $35,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

Shares of AMAT opened at $182.79 on Thursday. The firm has a 50-day simple moving average of $190.88 and a two-hundred day simple moving average of $207.30. The stock has a market cap of $150.69 billion, a PE ratio of 20.54, a P/E/G ratio of 2.29 and a beta of 1.56. Applied Materials, Inc. has a 1-year low of $141.94 and a 1-year high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Applied Materials, Inc. will post 8.51 EPS for the current 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 17.98%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMAT shares. Stifel Nicolaus decreased their price objective on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Tuesday, October 8th. B. Riley reduced their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their target price on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Morgan Stanley lowered their price target on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.24.

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.