Waldron Private Wealth LLC Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

by · The Cerbat Gem

Waldron Private Wealth LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,088 shares of the manufacturing equipment provider’s stock after purchasing an additional 107 shares during the period. Waldron Private Wealth LLC’s holdings in Applied Materials were worth $1,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. JT Stratford LLC lifted its holdings in shares of Applied Materials by 0.4% during the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock valued at $2,246,000 after purchasing an additional 48 shares during the last quarter. Financial Management Professionals Inc. boosted its position in Applied Materials by 5.6% in the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock worth $191,000 after purchasing an additional 49 shares in the last quarter. WASHINGTON TRUST Co lifted its position in shares of Applied Materials by 3.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock valued at $367,000 after buying an additional 49 shares in the last quarter. Optimum Investment Advisors raised its stake in Applied Materials by 1.3% in the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after purchasing an additional 50 shares during the last quarter. Finally, SlateStone Wealth LLC increased its stake in shares of Applied Materials by 4.7% in the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 0.5 %

Shares of AMAT stock traded down $0.84 during trading hours on Tuesday, reaching $183.62. The company had a trading volume of 4,453,578 shares, compared to its average volume of 6,086,819. The company has a 50 day moving average of $195.44 and a 200 day moving average of $209.11. The firm has a market cap of $152.03 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.66 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT – Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. On average, equities research analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued 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 0.87%. Applied Materials’s payout ratio is 18.39%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMAT. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Stifel Nicolaus decreased their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Mizuho decreased their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Citigroup decreased their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group decreased their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and an average target price of $229.14.

Get Our Latest Analysis on AMAT

Applied Materials Company 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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