Evergreen Capital Management LLC Has $2.93 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Evergreen Capital Management LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,407 shares of the manufacturing equipment provider’s stock after purchasing an additional 716 shares during the quarter. Evergreen Capital Management LLC’s holdings in Applied Materials were worth $2,928,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMAT. Swedbank AB bought a new stake in Applied Materials in the 1st quarter valued at approximately $773,611,000. Wellington Management Group LLP boosted its holdings in Applied Materials by 3,940.1% during the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after purchasing an additional 2,121,912 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Applied Materials by 126.4% during the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after purchasing an additional 1,259,111 shares during the last quarter. Vanguard Group Inc. increased its stake in Applied Materials by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock valued at $12,012,171,000 after buying an additional 973,218 shares during the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new stake in Applied Materials in the 1st quarter valued at $162,873,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Trading Up 1.0 %

AMAT stock opened at $194.04 on Tuesday. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The company has a market capitalization of $160.66 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. The company’s 50-day simple moving average is $197.32 and its 200 day simple moving average is $210.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.82%. Applied Materials’s payout ratio is 18.39%.

Analysts Set New Price Targets

AMAT has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Dbs Bank downgraded Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Friday, August 16th. Finally, Stifel Nicolaus cut their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.05.

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.