Applied Materials, Inc. (NASDAQ:AMAT) Stock Holdings Lifted by Cornerstone Advisors LLC

by · The Cerbat Gem

Cornerstone Advisors LLC increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 20.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,700 shares of the manufacturing equipment provider’s stock after acquiring an additional 8,600 shares during the period. Cornerstone Advisors LLC’s holdings in Applied Materials were worth $10,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in Applied Materials by 0.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 49,408 shares of the manufacturing equipment provider’s stock valued at $9,983,000 after purchasing an additional 225 shares during the period. Darwin Wealth Management LLC bought a new position in Applied Materials during the third quarter worth $375,000. Portfolio Design Labs LLC bought a new stake in Applied Materials in the 3rd quarter valued at $2,084,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Applied Materials in the 3rd quarter worth $319,000. Finally, Kirtland Hills Capital Management LLC increased its holdings in shares of Applied Materials by 44.7% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 2,300 shares of the manufacturing equipment provider’s stock worth $465,000 after purchasing an additional 710 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $170.49 on Thursday. The stock’s fifty day moving average price is $190.26 and its two-hundred day moving average price is $206.19. The firm has a market cap of $140.55 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 2.07 and a beta of 1.56. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (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 for the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the company posted $2.12 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Applied Materials, Inc. will post 9.52 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. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is 18.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMAT shares. Morgan Stanley decreased their price target on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. B. Riley lowered their target price 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. Needham & Company LLC reduced their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Evercore ISI dropped their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, TD Cowen reduced their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $219.81.

Read Our Latest Stock Analysis on AMAT

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.

See Also

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