WEALTHFRONT Corp decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 14.5% during the 3rd quarter, Holdings Channel reports. The firm owned 21,800 shares of the manufacturing equipment provider’s stock after selling 3,689 shares during the quarter. WEALTHFRONT Corp’s holdings in Applied Materials were worth $843,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Rational Advisors LLC grew its holdings in Applied Materials by 5,102.0% in the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 2,551 shares during the last quarter. ELM Advisors LLC acquired a new stake in Applied Materials in the third quarter valued at $157,000. Amussen Hunsaker Associates LLC acquired a new stake in Applied Materials in the second quarter valued at $162,000. LFA Lugano Financial Advisors SA acquired a new stake in Applied Materials in the second quarter valued at $177,000. Finally, Freestone Capital Holdings LLC acquired a new stake in Applied Materials in the third quarter valued at $200,000. 76.29% of the stock is currently owned by institutional investors.
Several research firms have weighed in on AMAT. Susquehanna Bancshares lowered their target price on Applied Materials from $65.00 to $60.00 and set a “positive” rating on the stock in a report on Wednesday, October 3rd. Imperial Capital lowered their target price on Applied Materials from $62.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, November 20th. Bank of America lowered their target price on Applied Materials from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 17th. UBS Group lowered their target price on Applied Materials from $43.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, November 16th. Finally, ValuEngine raised Applied Materials from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.14.
AMAT opened at $33.64 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.73 and a debt-to-equity ratio of 0.78. The firm has a market cap of $34.10 billion, a P/E ratio of 7.56, a P/E/G ratio of 1.14 and a beta of 1.66. Applied Materials, Inc. has a 52 week low of $30.53 and a 52 week high of $62.40.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 15th. The manufacturing equipment provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4 billion. Equities analysts predict that Applied Materials, Inc. will post 3.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 21st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.38%. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.
About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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