Eagle Asset Management Inc. Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Eagle Asset Management Inc. increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,877 shares of the manufacturing equipment provider’s stock after buying an additional 7,324 shares during the period. Eagle Asset Management Inc.’s holdings in Applied Materials were worth $8,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in shares of Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials in the second quarter worth approximately $28,000. Clean Yield Group purchased a new stake in shares of Applied Materials during the third quarter worth approximately $33,000. First PREMIER Bank raised its stake in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. Finally, PSI Advisors LLC lifted its holdings in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT opened at $174.88 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a fifty-two week low of $144.57 and a fifty-two week high of $255.89. The company has a market cap of $144.17 billion, a P/E ratio of 20.31, a PEG ratio of 1.65 and a beta of 1.56. The firm’s 50 day moving average price is $189.83 and its 200 day moving average price is $205.71.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same period last year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts forecast that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 18.58%.

Analyst Ratings Changes

A number of brokerages have recently commented on AMAT. Dbs Bank cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. TD Cowen dropped their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. Citigroup reduced their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, B. Riley dropped their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.05.

Applied Materials Company Profile

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.