Entropy Technologies LP Invests $950,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Entropy Technologies LP purchased a new position in Applied Materials, Inc. (NASDAQ:AMAT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,700 shares of the manufacturing equipment provider’s stock, valued at approximately $950,000.

Other institutional investors also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its stake in Applied Materials by 8.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 27,505 shares of the manufacturing equipment provider’s stock worth $5,557,000 after acquiring an additional 2,112 shares in the last quarter. Opinicus Capital Inc. boosted its holdings in shares of Applied Materials by 1.0% in the third quarter. Opinicus Capital Inc. now owns 7,528 shares of the manufacturing equipment provider’s stock valued at $1,521,000 after purchasing an additional 74 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in Applied Materials by 2.4% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,819 shares of the manufacturing equipment provider’s stock worth $974,000 after purchasing an additional 111 shares in the last quarter. Lountzis Asset Management LLC raised its position in Applied Materials by 0.5% during the 3rd quarter. Lountzis Asset Management LLC now owns 107,449 shares of the manufacturing equipment provider’s stock valued at $21,710,000 after purchasing an additional 568 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Applied Materials by 3.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 13,469 shares of the manufacturing equipment provider’s stock worth $2,721,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Mizuho decreased their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Wells Fargo & Company lowered their price target on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. UBS Group reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. B. Riley cut their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average target price of $227.24.

Applied Materials Stock Performance

Shares of AMAT opened at $182.79 on Thursday. The stock has a 50-day moving average of $190.88 and a two-hundred day moving average of $207.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The stock has a market cap of $150.69 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.29 and a beta of 1.56. Applied Materials, Inc. has a one year low of $141.94 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Applied Materials’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts predict that Applied Materials, Inc. will post 8.51 EPS for the current year.

Applied Materials Dividend Announcement

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 paid a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.88%. Applied Materials’s payout ratio is currently 17.98%.

About Applied Materials

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.