Pathway Financial Advisers LLC Purchases 163,966 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

by · The Markets Daily

Pathway Financial Advisers LLC lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 18,569.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 164,849 shares of the manufacturing equipment provider’s stock after buying an additional 163,966 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Applied Materials were worth $33,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMAT. Masso Torrence Wealth Management Inc. lifted its holdings in Applied Materials by 8.2% during the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,710 shares of the manufacturing equipment provider’s stock valued at $346,000 after buying an additional 130 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Applied Materials by 11.3% in the third quarter. Arkadios Wealth Advisors now owns 9,045 shares of the manufacturing equipment provider’s stock valued at $1,828,000 after purchasing an additional 916 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in Applied Materials by 2.7% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 296,985 shares of the manufacturing equipment provider’s stock worth $60,006,000 after purchasing an additional 7,933 shares during the period. Forsta AP Fonden raised its position in Applied Materials by 11.0% during the 3rd quarter. Forsta AP Fonden now owns 249,600 shares of the manufacturing equipment provider’s stock valued at $50,432,000 after purchasing an additional 24,800 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Applied Materials by 15.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 594,760 shares of the manufacturing equipment provider’s stock worth $121,878,000 after buying an additional 78,672 shares during the period. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Performance

NASDAQ:AMAT traded up $2.77 during midday trading on Friday, hitting $186.52. The company’s stock had a trading volume of 4,794,657 shares, compared to its average volume of 6,091,412. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The firm has a market cap of $154.43 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.66 and a beta of 1.54. The firm’s 50 day moving average is $193.72 and its 200-day moving average is $208.42.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the company posted $1.90 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.39%.

Analysts Set New Price Targets

AMAT has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Mizuho lowered their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Citigroup cut their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. UBS Group lowered their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Susquehanna cut their price target on Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $229.14.

Check Out Our Latest Research Report on Applied Materials

About Applied Materials

(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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