Claro Advisors LLC Raises Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

by · The Markets Daily

Claro Advisors LLC boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,324 shares of the manufacturing equipment provider’s stock after acquiring an additional 77 shares during the quarter. Claro Advisors LLC’s holdings in Applied Materials were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AMAT. Van ECK Associates Corp lifted its holdings in Applied Materials by 29.8% in the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after buying an additional 1,509,439 shares during the period. WoodTrust Financial Corp lifted its holdings in Applied Materials by 47.0% in the 3rd quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock worth $13,722,000 after buying an additional 21,699 shares during the period. Victory Capital Management Inc. lifted its holdings in Applied Materials by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock worth $230,158,000 after buying an additional 15,183 shares during the period. Stiles Financial Services Inc lifted its holdings in Applied Materials by 252.0% in the 3rd quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock worth $957,000 after buying an additional 3,389 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Applied Materials by 26.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 52,639 shares of the manufacturing equipment provider’s stock worth $10,636,000 after buying an additional 11,165 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group dropped their price objective on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Evercore ISI dropped their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday. TD Cowen dropped their price objective on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday. Needham & Company LLC decreased their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday. Finally, Stifel Nicolaus decreased their target price on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Read Our Latest Stock Report on Applied Materials

Applied Materials Stock Performance

Shares of AMAT opened at $168.88 on Monday. The business’s fifty day simple moving average is $190.88 and its two-hundred day simple moving average is $206.87. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12 month low of $141.94 and a 12 month high of $255.89. The company has a market cap of $139.23 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.71% and a net margin of 26.41%. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same period last year, the business posted $2.12 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that Applied Materials, Inc. will post 9.52 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.95%. Applied Materials’s dividend payout ratio is 18.58%.

Applied Materials Company 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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