9,450 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Acquired by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,450 shares of the manufacturing equipment provider’s stock, valued at approximately $2,029,000.

Several other institutional investors have also recently modified their holdings of the stock. JT Stratford LLC raised its position in shares of Applied Materials by 0.4% during the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock worth $2,246,000 after purchasing an additional 48 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in Applied Materials by 5.6% in the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock valued at $191,000 after acquiring an additional 49 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in Applied Materials by 3.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock valued at $367,000 after acquiring an additional 49 shares during the last quarter. Optimum Investment Advisors raised its holdings in Applied Materials by 1.3% in the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after acquiring an additional 50 shares during the last quarter. Finally, SlateStone Wealth LLC raised its holdings in Applied Materials by 4.7% in the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock valued at $261,000 after acquiring an additional 50 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Down 1.4 %

Shares of Applied Materials stock opened at $202.05 on Tuesday. The company has a fifty day moving average price of $195.19 and a 200 day moving average price of $210.02. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89. The stock has a market cap of $167.29 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 2.30 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share 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 during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company earned $1.90 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.79%. Applied Materials’s payout ratio is currently 18.39%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMAT shares. Mizuho cut their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, September 20th. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, August 16th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a report on Friday, August 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and an average price target of $231.05.

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.