Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Atom Investors LP

Atom Investors LP boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 157.6% during the third quarter, Holdings Channel.com reports. The fund owned 14,967 shares of the manufacturing equipment provider’s stock after purchasing an additional 9,156 shares during the quarter. Atom Investors LP’s holdings in Applied Materials were worth $3,024,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC purchased a new stake in shares of Applied Materials during the 2nd quarter worth about $206,000. Trust Co. of Toledo NA OH acquired a new position in Applied Materials during the second quarter valued at approximately $203,000. Lynx Investment Advisory acquired a new stake in shares of Applied Materials in the second quarter worth $179,000. Harbor Capital Advisors Inc. raised its stake in shares of Applied Materials by 4.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,027 shares of the manufacturing equipment provider’s stock valued at $5,434,000 after acquiring an additional 904 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in Applied Materials during the 2nd quarter worth $131,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 2.0 %

NASDAQ:AMAT opened at $174.71 on Monday. The firm has a market capitalization of $144.03 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.56. Applied Materials, Inc. has a 52 week low of $144.57 and a 52 week high of $255.89. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $188.11 and a 200-day moving average of $204.41.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. Analysts predict that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. Applied Materials’s payout ratio is currently 18.58%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMAT. UBS Group decreased their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. Mizuho decreased their target price on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. B. Riley cut their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Wells Fargo & Company dropped their target price on Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $221.48.

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.