SVB Wealth LLC Buys 1,644 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

SVB Wealth LLC increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,201 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,644 shares during the quarter. SVB Wealth LLC’s holdings in Applied Materials were worth $2,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Applied Materials by 76.9% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Financial Freedom LLC purchased a new position in shares of Applied Materials during the fourth quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new position in shares of Applied Materials during the third quarter valued at approximately $39,000. RVW Wealth LLC bought a new position in shares of Applied Materials during the third quarter valued at approximately $41,000. Finally, MCF Advisors LLC grew its stake in shares of Applied Materials by 333.8% during the third quarter. MCF Advisors LLC now owns 295 shares of the manufacturing equipment provider’s stock valued at $41,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMAT. Deutsche Bank Aktiengesellschaft began coverage on Applied Materials in a research note on Thursday, April 11th. They set a “hold” rating and a $225.00 target price on the stock. Morgan Stanley upped their target price on Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Bank Of America (Bofa) upped their target price on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. TD Cowen upped their target price on Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Needham & Company LLC increased their price objective on Applied Materials from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.50.

Applied Materials Stock Performance

Shares of AMAT opened at $199.89 on Thursday. Applied Materials, Inc. has a 12 month low of $109.12 and a 12 month high of $214.91. The stock has a fifty day moving average price of $202.12 and a 200-day moving average price of $169.06. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. The firm has a market cap of $166.09 billion, a PE ratio of 23.52, a P/E/G ratio of 3.08 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. The company had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.48 billion. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. Equities research analysts predict that Applied Materials, Inc. will post 8.04 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be paid a $0.40 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.80%. Applied Materials’s dividend payout ratio (DPR) is 15.06%.

About Applied Materials

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.