Red Door Wealth Management LLC Acquires Shares of 1,611 Applied Materials, Inc. (NASDAQ:AMAT)

Red Door Wealth Management LLC bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,611 shares of the manufacturing equipment provider’s stock, valued at approximately $262,000.

Other large investors also recently modified their holdings of the company. Clean Yield Group bought a new stake in Applied Materials during the third quarter worth $33,000. First PREMIER Bank lifted its holdings in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Applied Materials during the third quarter worth $37,000. DT Investment Partners LLC lifted its holdings in Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares during the period. Finally, City Holding Co. bought a new stake in Applied Materials during the fourth quarter worth $39,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 2.1 %

AMAT opened at $186.75 on Friday. The business has a 50 day simple moving average of $173.64 and a two-hundred day simple moving average of $189.92. The firm has a market capitalization of $151.95 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.99 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. Applied Materials’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.12 EPS. Analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.86%. Applied Materials’s payout ratio is 18.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC dropped 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. Stifel Nicolaus lowered their target price on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Susquehanna lifted their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays reduced their target price on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reduced their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $218.71.

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.