Formidable Asset Management LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,305 shares of the manufacturing equipment provider’s stock after selling 100 shares during the period. Formidable Asset Management LLC’s holdings in Applied Materials were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in AMAT. Elmwood Wealth Management Inc. acquired a new position in Applied Materials during the 2nd quarter worth about $28,000. D Orazio & Associates Inc. acquired a new position in Applied Materials during the 3rd quarter worth about $30,000. FinTrust Capital Advisors LLC lifted its stake in Applied Materials by 70.9% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 229 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 95 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Applied Materials by 42.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 282 shares of the manufacturing equipment provider’s stock worth $36,000 after acquiring an additional 84 shares in the last quarter. Finally, JJJ Advisors Inc. lifted its stake in Applied Materials by 143.7% during the 3rd quarter. JJJ Advisors Inc. now owns 307 shares of the manufacturing equipment provider’s stock worth $40,000 after acquiring an additional 181 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. New Street Research lowered Applied Materials from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $162.38 to $140.00 in a research note on Tuesday, September 28th. Wells Fargo & Company increased their price target on Applied Materials from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, November 19th. Morgan Stanley increased their price target on Applied Materials from $150.00 to $160.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 15th. Zacks Investment Research lowered Applied Materials from a “buy” rating to a “hold” rating and set a $155.00 price target on the stock. in a research report on Tuesday, November 23rd. Finally, Credit Suisse Group increased their price target on Applied Materials from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 19th. Seven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Buy” and an average target price of $166.00.
Shares of AMAT stock opened at $167.00 on Friday. The stock has a fifty day moving average price of $153.22 and a 200 day moving average price of $141.59. The stock has a market cap of $148.38 billion, a PE ratio of 26.05, a P/E/G ratio of 1.65 and a beta of 1.38. Applied Materials, Inc. has a 1 year low of $96.07 and a 1 year high of $167.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.86 and a current ratio of 2.54.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.01). The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. As a group, equities research analysts predict that Applied Materials, Inc. will post 8.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 16th. Shareholders of record on Wednesday, February 23rd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Tuesday, February 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 14.98%.
Applied Materials Company Profile
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.
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