Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Contravisory Investment Management Inc.

by · The Markets Daily

Contravisory Investment Management Inc. boosted its position in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,649 shares of the manufacturing equipment provider’s stock after buying an additional 1,801 shares during the quarter. Applied Materials accounts for approximately 2.0% of Contravisory Investment Management Inc.’s holdings, making the stock its 17th biggest holding. Contravisory Investment Management Inc.’s holdings in Applied Materials were worth $9,223,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMAT. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the first quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in Applied Materials in the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials during the second quarter worth $28,000. Clean Yield Group bought a new position in Applied Materials in the 3rd quarter valued at $33,000. Finally, First PREMIER Bank increased its holdings in shares of Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $203.96 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The firm has a market cap of $168.87 billion, a PE ratio of 23.44, a PEG ratio of 2.30 and a beta of 1.54. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The firm has a fifty day moving average of $194.32 and a 200 day moving average of $209.81.

Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. Applied Materials’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. As a group, research analysts predict that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.78%. Applied Materials’s dividend payout ratio is presently 18.39%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMAT. UBS Group cut their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Morgan Stanley cut their price target on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Citigroup reduced their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research note on Tuesday. Finally, StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.90.

View Our Latest Report on Applied Materials

Applied Materials Profile

(Free Report)

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.

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