Applied Materials, Inc. (NASDAQ:AMAT) Holdings Boosted by Strategic Advisors LLC

Strategic Advisors LLC boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 201.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,069 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,051 shares during the period. Strategic Advisors LLC’s holdings in Applied Materials were worth $620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. Modus Advisors LLC purchased a new position in shares of Applied Materials during the 3rd quarter valued at $295,000. Clarus Wealth Advisors grew its holdings in shares of Applied Materials by 16.0% during the 3rd quarter. Clarus Wealth Advisors now owns 1,186 shares of the manufacturing equipment provider’s stock valued at $237,000 after acquiring an additional 164 shares in the last quarter. Patten Group Inc. grew its holdings in shares of Applied Materials by 1.2% during the 3rd quarter. Patten Group Inc. now owns 6,190 shares of the manufacturing equipment provider’s stock valued at $1,251,000 after acquiring an additional 71 shares in the last quarter. Adirondack Trust Co. grew its holdings in shares of Applied Materials by 1.1% during the 3rd quarter. Adirondack Trust Co. now owns 8,369 shares of the manufacturing equipment provider’s stock valued at $1,691,000 after acquiring an additional 92 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in shares of Applied Materials by 9.0% during the 3rd quarter. Wedmont Private Capital now owns 10,444 shares of the manufacturing equipment provider’s stock valued at $2,090,000 after acquiring an additional 860 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded down $2.04 on Thursday, hitting $203.02. 1,659,209 shares of the company were exchanged, compared to its average volume of 6,016,776. The company’s 50 day moving average price is $194.32 and its two-hundred day moving average price is $209.81. 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 quick ratio of 2.09 and a current ratio of 2.86. The firm has a market capitalization of $168.10 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.30 and a beta of 1.54.

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

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid 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%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMAT shares. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. UBS Group reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Morgan Stanley reduced their price objective on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average price target of $228.90.

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.