Plimoth Trust Co. LLC Raises Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Plimoth Trust Co. LLC lifted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,450 shares of the manufacturing equipment provider’s stock after acquiring an additional 221 shares during the quarter. Applied Materials accounts for approximately 1.5% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 12th largest holding. Plimoth Trust Co. LLC’s holdings in Applied Materials were worth $5,765,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in Applied Materials in the 3rd quarter worth approximately $33,000. First PREMIER Bank raised 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 purchasing an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials in the 3rd quarter worth $37,000. DT Investment Partners LLC increased its stake in shares of 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 acquiring an additional 166 shares during the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials in the 4th quarter worth $39,000. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMAT shares. Mizuho lowered their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. 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, November 15th. Susquehanna raised their target price on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Friday, November 15th. Finally, Morgan Stanley restated an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.71.

Applied Materials Price Performance

AMAT traded up $1.46 during trading on Wednesday, reaching $174.31. 1,220,361 shares of the stock were exchanged, compared to its average volume of 6,590,156. The business’s 50 day moving average price is $174.15 and its two-hundred day moving average price is $187.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The company has a market capitalization of $141.67 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently announced 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 is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.92%. Applied Materials’s payout ratio is currently 18.58%.

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.