Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Reduced by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. decreased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 72.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,485 shares of the manufacturing equipment provider’s stock after selling 3,927 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Applied Materials were worth $242,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in Applied Materials in the fourth quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new stake in Applied Materials in the third quarter worth approximately $37,000. DT Investment Partners LLC increased its stake in shares of Applied Materials by 592.9% during 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 last quarter. YANKCOM Partnership bought a new position in shares of Applied Materials during the 4th quarter valued at $32,000. Finally, Dunhill Financial LLC raised its holdings in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT opened at $171.98 on Friday. The stock’s 50 day simple moving average is $175.59 and its 200-day simple moving average is $183.92. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $139.77 billion, a PE ratio of 22.48, a P/E/G ratio of 1.83 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 announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is 20.92%.

Analyst Ratings Changes

Several equities analysts have commented on AMAT shares. Evercore ISI lowered their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Barclays lowered their price objective on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. 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 report on Friday, January 10th. Mizuho lowered their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.38.

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.