Morgan Stanley Raises Position in Applied Materials, Inc. (NASDAQ:AMAT)

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Morgan Stanley lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,301,391 shares of the manufacturing equipment provider’s stock after buying an additional 364,830 shares during the quarter. Morgan Stanley owned about 0.43% of Applied Materials worth $198,682,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. IHT Wealth Management LLC lifted its position in shares of Applied Materials by 18.7% during the 1st quarter. IHT Wealth Management LLC now owns 6,121 shares of the manufacturing equipment provider’s stock worth $324,000 after buying an additional 965 shares during the last quarter. Blue Pool Management Ltd. raised its position in Applied Materials by 0.4% in the 1st quarter. Blue Pool Management Ltd. now owns 265,500 shares of the manufacturing equipment provider’s stock valued at $14,764,000 after purchasing an additional 1,000 shares during the last quarter. 180 Wealth Advisors LLC raised its position in Applied Materials by 8.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 12,761 shares of the manufacturing equipment provider’s stock valued at $589,000 after purchasing an additional 1,001 shares during the last quarter. Cadence Capital Management LLC raised its position in Applied Materials by 17.9% in the 2nd quarter. Cadence Capital Management LLC now owns 6,702 shares of the manufacturing equipment provider’s stock valued at $310,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its position in Applied Materials by 25.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 5,152 shares of the manufacturing equipment provider’s stock valued at $238,000 after purchasing an additional 1,037 shares during the last quarter. Institutional investors and hedge funds own 77.21% of the company’s stock.

Shares of Applied Materials stock opened at $36.59 on Tuesday. The firm has a market cap of $37.99 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.79 and a beta of 1.49. The company has a quick ratio of 1.67, a current ratio of 2.52 and a debt-to-equity ratio of 0.78. Applied Materials, Inc. has a one year low of $36.31 and a one year high of $62.40.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.42 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. Applied Materials’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, equities research analysts forecast that Applied Materials, Inc. will post 4.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. Applied Materials’s payout ratio is currently 24.62%.

Several research firms recently commented on AMAT. BidaskClub upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Susquehanna Bancshares reduced their price target on shares of Applied Materials from $65.00 to $60.00 and set a “positive” rating for the company in a research report on Wednesday, October 3rd. Bank of America reduced their price target on shares of Applied Materials from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Citigroup reduced their price target on shares of Applied Materials from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Finally, Nomura reduced their price target on shares of Applied Materials from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $61.95.

Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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