Legacy Private Trust Co. Has $605,000 Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Legacy Private Trust Co. decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,723 shares of the manufacturing equipment provider’s stock after selling 65 shares during the quarter. Legacy Private Trust Co.’s holdings in Applied Materials were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AMAT. Lantz Financial LLC acquired a new position in Applied Materials during the 2nd quarter worth approximately $212,000. MGO One Seven LLC lifted its holdings in shares of Applied Materials by 10.1% in the 2nd quarter. MGO One Seven LLC now owns 13,637 shares of the manufacturing equipment provider’s stock worth $3,218,000 after purchasing an additional 1,248 shares in the last quarter. Angeles Wealth Management LLC grew its position in Applied Materials by 5.9% in the 2nd quarter. Angeles Wealth Management LLC now owns 2,020 shares of the manufacturing equipment provider’s stock valued at $477,000 after purchasing an additional 112 shares during the period. STAR Financial Bank increased its stake in Applied Materials by 3.8% during the 2nd quarter. STAR Financial Bank now owns 2,052 shares of the manufacturing equipment provider’s stock valued at $484,000 after purchasing an additional 75 shares in the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in Applied Materials during the second quarter worth $475,000. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

AMAT has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Susquehanna dropped their target price on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Mizuho decreased their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Evercore ISI dropped their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.29.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $176.99 on Thursday. The company has a 50-day moving average price of $174.23 and a two-hundred day moving average price of $193.70. Applied Materials, Inc. has a twelve month low of $148.24 and a twelve month high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $144.01 billion, a PE ratio of 20.56, a P/E/G ratio of 1.61 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion for 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 business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.12 EPS. Equities analysts forecast that Applied Materials, Inc. will post 9.48 EPS for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is 18.58%.

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.