Frank Rimerman Advisors LLC Has $5.07 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Frank Rimerman Advisors LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 26,396.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,462 shares of the manufacturing equipment provider’s stock after buying an additional 21,381 shares during the period. Frank Rimerman Advisors LLC’s holdings in Applied Materials were worth $5,065,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Precision Wealth Strategies LLC raised its position in Applied Materials by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock valued at $502,000 after purchasing an additional 242 shares during the last quarter. Gilbert & Cook Inc. raised its holdings in Applied Materials by 11.1% in 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 during the last quarter. Gryphon Financial Partners LLC boosted 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 worth $249,000 after buying an additional 84 shares during the period. Quest Partners LLC bought a new stake in Applied Materials during the 4th quarter worth approximately $369,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Applied Materials by 5.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 110,875 shares of the manufacturing equipment provider’s stock valued at $17,969,000 after acquiring an additional 5,353 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $192.16 on Friday. The business has a 50-day simple moving average of $198.35 and a 200 day simple moving average of $210.18. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. 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.

Applied Materials (NASDAQ:AMAT) last issued its 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 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 analyst estimates of $6.68 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. Applied Materials’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued 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 of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set 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 research report on Friday, August 16th. B. Riley lowered their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Morgan Stanley reduced their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.