Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Raised by PFG Investments LLC

PFG Investments LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 9,801 shares of the manufacturing equipment provider’s stock after purchasing an additional 302 shares during the quarter. PFG Investments LLC’s holdings in Applied Materials were worth $1,594,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Clean Yield Group acquired a new stake in Applied Materials during the 3rd quarter worth about $33,000. First PREMIER Bank raised its holdings in shares of Applied Materials by 326.3% during the third 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. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials in the 3rd quarter valued at approximately $37,000. DT Investment Partners LLC boosted its stake in Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, City Holding Co. purchased a new position in Applied Materials during the 4th quarter worth approximately $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $174.57 on Tuesday. Applied Materials, Inc. has a twelve month low of $158.96 and a twelve month high of $255.89. The business has a 50 day moving average price of $174.00 and a 200 day moving average price of $188.61. The company has a market cap of $142.04 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.99 and a beta of 1.53. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29.

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

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is presently 18.58%.

Analyst Upgrades and Downgrades

AMAT has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. The Goldman Sachs Group lowered their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays reduced their price target on shares of 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. Wells Fargo & Company lowered their price objective on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Sanford C. Bernstein cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.71.

About Applied Materials

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.