Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Symphony Financial Ltd. Co.

by · The Markets Daily

Symphony Financial Ltd. Co. lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,436 shares of the manufacturing equipment provider’s stock after selling 171 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Applied Materials were worth $498,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AMAT. Dynamic Advisor Solutions LLC boosted its position in Applied Materials by 33.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 7,648 shares of the manufacturing equipment provider’s stock worth $1,577,000 after acquiring an additional 1,917 shares during the last quarter. Columbus Macro LLC acquired a new position in shares of Applied Materials in the 1st quarter valued at $229,000. First Financial Corp IN boosted its holdings in shares of Applied Materials by 49.8% in the 1st quarter. First Financial Corp IN now owns 349 shares of the manufacturing equipment provider’s stock valued at $72,000 after purchasing an additional 116 shares during the last quarter. RMR Wealth Builders boosted its holdings in shares of Applied Materials by 8.0% in the 1st quarter. RMR Wealth Builders now owns 2,748 shares of the manufacturing equipment provider’s stock valued at $567,000 after purchasing an additional 203 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of Applied Materials by 88.4% in the 1st quarter. Brookstone Capital Management now owns 21,153 shares of the manufacturing equipment provider’s stock valued at $4,362,000 after purchasing an additional 9,928 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $183.00 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $151.52 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.66 and a beta of 1.54. The stock’s fifty day simple moving average is $195.09 and its 200 day simple moving average is $208.93. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89.

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 analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 EPS. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio is 18.39%.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several recent research reports. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Morgan Stanley reduced their target price on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. UBS Group reduced their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. B. Riley reduced 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

Check Out Our Latest Stock Analysis on AMAT

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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