Magnolia Capital Advisors LLC Invests $362,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Magnolia Capital Advisors LLC bought a new position in Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,535 shares of the manufacturing equipment provider’s stock, valued at approximately $362,000.

Other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. increased its position in Applied Materials by 11.1% during the 4th quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock valued at $678,000 after buying an additional 418 shares in the last quarter. Gryphon Financial Partners LLC increased its position in Applied Materials by 5.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock valued at $249,000 after buying an additional 84 shares in the last quarter. Evoke Wealth LLC bought a new position in Applied Materials during the 4th quarter valued at approximately $233,000. Eagle Asset Management Inc. increased its position in Applied Materials by 3.4% during the 4th quarter. Eagle Asset Management Inc. now owns 33,304 shares of the manufacturing equipment provider’s stock valued at $5,398,000 after buying an additional 1,103 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in Applied Materials by 17.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,067 shares of the manufacturing equipment provider’s stock valued at $173,000 after buying an additional 155 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMAT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Applied Materials in a research note on Friday, August 16th. Mizuho cut their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Wells Fargo & Company increased their target price on Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Finally, Dbs Bank downgraded Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.05.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $202.05 on Tuesday. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The stock’s fifty day moving average is $195.19 and its 200 day moving average is $210.02. The stock has a market cap of $167.29 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.30 and a beta of 1.55. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the firm earned $1.90 EPS. Applied Materials’s revenue for the quarter was up 5.5% compared to the same quarter last year. 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. Investors of record on Thursday, November 21st will be issued 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 dividend payout ratio is currently 18.39%.

Applied Materials 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.