Redmond Asset Management LLC Decreases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Redmond Asset Management LLC lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,649 shares of the manufacturing equipment provider’s stock after selling 523 shares during the quarter. Redmond Asset Management LLC’s holdings in Applied Materials were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Applied Materials by 1.8% during the third quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock worth $7,841,178,000 after purchasing an additional 672,548 shares in the last quarter. Geode Capital Management LLC raised its holdings in Applied Materials by 1.9% during the third quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock worth $3,994,968,000 after purchasing an additional 371,866 shares in the last quarter. FMR LLC raised its holdings in Applied Materials by 5.5% during the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock worth $3,316,269,000 after purchasing an additional 858,122 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Applied Materials by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock valued at $1,790,554,000 after acquiring an additional 318,445 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Applied Materials by 1.3% in the 4th quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider’s stock valued at $1,082,353,000 after acquiring an additional 84,130 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

Applied Materials stock opened at $171.98 on Friday. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $175.64 and its 200 day simple moving average is $183.86. The firm has a market capitalization of $139.77 billion, a PE ratio of 22.48, a P/E/G ratio of 1.85 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, equities research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. Applied Materials’s dividend payout ratio is presently 20.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup lifted their target price on shares of Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a report on Friday, January 17th. Wells Fargo & Company cut their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Evercore ISI cut their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $215.38.

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.