Lakeview Capital Partners LLC raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 28.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,133 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,363 shares during the period. Lakeview Capital Partners LLC’s holdings in Applied Materials were worth $306,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Applied Materials in the third quarter valued at about $29,000. Sandy Spring Bank increased its holdings in Applied Materials by 57.4% in the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after purchasing an additional 287 shares in the last quarter. Next Capital Management LLC bought a new stake in Applied Materials in the second quarter worth approximately $35,000. Coastal Capital Group Inc. bought a new stake in Applied Materials in the second quarter worth approximately $36,000. Finally, Horan Capital Advisors LLC. bought a new stake in Applied Materials in the third quarter worth approximately $39,000. 79.06% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on AMAT shares. KeyCorp lowered their target price on Applied Materials from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Stifel Nicolaus set a $57.00 price target on Applied Materials and gave the company a “buy” rating in a research report on Monday, August 26th. Deutsche Bank upped their price target on Applied Materials from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. BidaskClub raised Applied Materials from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Craig Hallum raised Applied Materials from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $58.00 in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $53.23.
AMAT traded up $0.09 during trading on Friday, reaching $56.03. 3,313,800 shares of the company were exchanged, compared to its average volume of 9,191,457. Applied Materials, Inc. has a 12-month low of $28.79 and a 12-month high of $57.29. The company has a quick ratio of 1.72, a current ratio of 2.65 and a debt-to-equity ratio of 0.65. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 3.40 and a beta of 1.66. The company’s 50-day moving average is $52.53 and its two-hundred day moving average is $46.93.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. Equities analysts forecast that Applied Materials, Inc. will post 3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, November 20th. Applied Materials’s payout ratio is 18.88%.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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