Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Fiduciary Alliance LLC

by · The Cerbat Gem

Fiduciary Alliance LLC grew its stake in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 63.4% in the third quarter, Holdings Channel reports. The fund owned 1,547 shares of the manufacturing equipment provider’s stock after purchasing an additional 600 shares during the period. Fiduciary Alliance LLC’s holdings in Applied Materials were worth $313,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new position in Applied Materials during the first quarter worth about $26,000. Summit Securities Group LLC acquired a new stake in shares of Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials during the 2nd quarter valued at approximately $28,000. Clean Yield Group acquired a new position in Applied Materials in the third quarter valued at approximately $33,000. Finally, First PREMIER Bank grew its position in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. 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 recent analyst reports. B. Riley decreased their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Stifel Nicolaus decreased their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Mizuho decreased their price target 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. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.14.

View Our Latest Analysis on Applied Materials

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $213.89 on Tuesday. The stock’s 50-day moving average is $195.58 and its two-hundred day moving average is $209.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The company has a market cap of $177.10 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the business earned $1.90 EPS. Applied Materials’s revenue was up 5.5% on a year-over-year basis. Analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.40 dividend. 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 0.75%. Applied Materials’s payout ratio is currently 18.39%.

Applied Materials 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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