Turtle Creek Wealth Advisors LLC Has $5.46 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Turtle Creek Wealth Advisors LLC grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,043 shares of the manufacturing equipment provider’s stock after purchasing an additional 187 shares during the quarter. Applied Materials comprises approximately 1.1% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 29th largest holding. Turtle Creek Wealth Advisors LLC’s holdings in Applied Materials were worth $5,464,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AMAT. Summit Securities Group LLC acquired a new stake in Applied Materials during the 2nd quarter worth $26,000. Fairfield Financial Advisors LTD acquired a new stake in Applied Materials during the 2nd quarter worth $28,000. Clean Yield Group acquired a new stake in Applied Materials during the 3rd quarter worth $33,000. First PREMIER Bank raised its stake in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 124 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Applied Materials during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT stock traded down $17.12 during mid-day trading on Friday, hitting $168.88. 16,287,484 shares of the company were exchanged, compared to its average volume of 6,137,177. The business has a 50 day simple moving average of $190.88 and a 200-day simple moving average of $206.73. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $139.22 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.24 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.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during 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 business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.90 earnings per share. On average, equities analysts forecast that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.95%. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.

Analysts Set New Price Targets

AMAT has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Wells Fargo & Company lowered their target price on Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Friday. Evercore ISI lowered their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Stifel Nicolaus decreased their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.81.

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.