Oak Thistle LLC Invests $1.58 Million in Applied Materials, Inc. (NASDAQ:AMAT)

Oak Thistle LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 9,734 shares of the manufacturing equipment provider’s stock, valued at approximately $1,583,000.

A number of other large investors also recently modified their holdings of the company. Accurate Wealth Management LLC increased its stake in Applied Materials by 3.6% in the 4th quarter. Accurate Wealth Management LLC now owns 9,024 shares of the manufacturing equipment provider’s stock worth $1,550,000 after buying an additional 315 shares in the last quarter. Wynn Capital LLC grew its position in shares of Applied Materials by 1.2% during the fourth quarter. Wynn Capital LLC now owns 7,943 shares of the manufacturing equipment provider’s stock worth $1,292,000 after purchasing an additional 95 shares in the last quarter. Wallace Advisory Group LLC grew its position in shares of Applied Materials by 57.4% during the fourth quarter. Wallace Advisory Group LLC now owns 1,797 shares of the manufacturing equipment provider’s stock worth $292,000 after purchasing an additional 655 shares in the last quarter. Mendota Financial Group LLC raised its stake in Applied Materials by 12.9% during the 4th quarter. Mendota Financial Group LLC now owns 614 shares of the manufacturing equipment provider’s stock valued at $100,000 after purchasing an additional 70 shares during the period. Finally, West Oak Capital LLC lifted its holdings in Applied Materials by 4.0% in the 4th quarter. West Oak Capital LLC now owns 13,982 shares of the manufacturing equipment provider’s stock worth $2,274,000 after purchasing an additional 535 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.6 %

NASDAQ AMAT opened at $173.65 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52 week low of $149.84 and a 52 week high of $255.89. The firm has a market capitalization of $141.30 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.61 and a beta of 1.53. The company has a fifty day moving average of $173.43 and a two-hundred day moving average of $191.74.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the previous year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts predict that Applied Materials, Inc. will post 9.48 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. Applied Materials’s payout ratio is 18.58%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMAT. Susquehanna cut their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. The Goldman Sachs Group cut their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Evercore ISI decreased their price target on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft cut their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Finally, Mizuho decreased their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.24.

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.