Morse Asset Management Inc Cuts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Morse Asset Management Inc lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,867 shares of the manufacturing equipment provider’s stock after selling 135 shares during the quarter. Applied Materials accounts for 1.4% of Morse Asset Management Inc’s investment portfolio, making the stock its 23rd biggest position. Morse Asset Management Inc’s holdings in Applied Materials were worth $5,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new position in Applied Materials in the 1st quarter worth approximately $26,000. Summit Securities Group LLC acquired a new position in shares of Applied Materials during the second quarter worth $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials in the second quarter valued at $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Applied Materials during the 1st quarter valued at $35,000. Finally, RFP Financial Group LLC increased its stake in Applied Materials by 96.6% during the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMAT shares. Stifel Nicolaus lowered their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a report on Friday, August 16th. B. Riley cut their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. Finally, Mizuho cut their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.05.

Applied Materials Trading Down 2.3 %

Applied Materials stock opened at $192.16 on Monday. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $159.10 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.21 and a beta of 1.55. The firm has a 50-day moving average price of $198.35 and a two-hundred day moving average price of $210.17.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.39%.

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.