Professional Financial Advisors LLC Takes Position in Applied Materials, Inc. (NASDAQ:AMAT)

Professional Financial Advisors LLC bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,415 shares of the manufacturing equipment provider’s stock, valued at approximately $229,000.

Several other large investors have also modified their holdings of AMAT. Financial Freedom LLC acquired a new stake in Applied Materials in the 4th quarter worth about $25,000. CGC Financial Services LLC acquired a new position in shares of Applied Materials in the 2nd quarter worth approximately $29,000. Global Wealth Management Investment Advisory Inc. grew its position in shares of Applied Materials by 76.9% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. BluePath Capital Management LLC acquired a new position in Applied Materials during the 3rd quarter worth $39,000. Finally, Quarry LP acquired a new position in Applied Materials during the 1st quarter worth $40,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup upped their price target on Applied Materials from $170.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, February 16th. TD Cowen upped their price target on Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, February 16th. UBS Group increased their target price on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Mizuho increased their price target on Applied Materials from $185.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, B. Riley increased their price objective on Applied Materials from $175.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.83.

Applied Materials Stock Performance

NASDAQ:AMAT traded down $2.49 during trading hours on Thursday, reaching $205.51. 2,503,172 shares of the company’s stock were exchanged, compared to its average volume of 6,516,669. The firm has a market capitalization of $170.76 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 3.13 and a beta of 1.59. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. Applied Materials, Inc. has a 1-year low of $109.00 and a 1-year high of $214.91. The company has a 50-day moving average of $189.26 and a 200 day moving average of $161.58.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The business had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.48 billion. During the same period last year, the company earned $2.03 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Research analysts anticipate that Applied Materials, Inc. will post 8.03 EPS for the current year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio is currently 15.06%.

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.