SevenBridge Financial Group LLC Purchases 659 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

by · The Markets Daily

SevenBridge Financial Group LLC boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,309 shares of the manufacturing equipment provider’s stock after buying an additional 659 shares during the period. SevenBridge Financial Group LLC’s holdings in Applied Materials were worth $1,190,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Centaurus Financial Inc. increased its position in Applied Materials by 20.3% in the third quarter. Centaurus Financial Inc. now owns 3,815 shares of the manufacturing equipment provider’s stock worth $771,000 after purchasing an additional 643 shares during the last quarter. Alpha DNA Investment Management LLC lifted its position in Applied Materials by 90.1% during the third quarter. Alpha DNA Investment Management LLC now owns 9,277 shares of the manufacturing equipment provider’s stock valued at $1,874,000 after purchasing an additional 4,397 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Applied Materials by 26.4% in the 3rd quarter. Larson Financial Group LLC now owns 71,210 shares of the manufacturing equipment provider’s stock worth $14,388,000 after buying an additional 14,891 shares in the last quarter. Sompo Asset Management Co. Ltd. increased its holdings in shares of Applied Materials by 3.7% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 4,480 shares of the manufacturing equipment provider’s stock worth $905,000 after buying an additional 160 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its position in shares of Applied Materials by 2.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 14,991 shares of the manufacturing equipment provider’s stock valued at $3,029,000 after buying an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

AMAT has been the topic of several analyst reports. Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. TD Cowen cut their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company lowered their price target on Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. UBS Group cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Needham & Company LLC lowered their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.05.

Check Out Our Latest Stock Report on AMAT

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $174.88 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average price is $189.83 and its 200-day moving average price is $205.72. The firm has a market cap of $144.17 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.65 and a beta of 1.56. Applied Materials, Inc. has a 12 month low of $144.57 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 EPS. On average, equities research analysts expect that Applied Materials, Inc. will post 9.5 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. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is 18.58%.

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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