Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Boosted by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,363 shares of the manufacturing equipment provider’s stock after acquiring an additional 6,638 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Applied Materials were worth $18,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials in the second quarter worth approximately $28,000. PSI Advisors LLC increased its position in Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares during the last quarter. Clean Yield Group acquired a new stake in Applied Materials in the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank grew 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 buying an additional 124 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMAT. Wells Fargo & Company cut their price objective on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday. Needham & Company LLC decreased their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research report on Tuesday, October 8th. TD Cowen decreased their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday. Finally, Morgan Stanley decreased their target price on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday. 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $186.00 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a twelve month low of $141.94 and a twelve month high of $255.89. The firm has a market cap of $153.34 billion, a P/E ratio of 20.90, a PEG ratio of 2.24 and a beta of 1.56. The company has a 50 day moving average of $190.88 and a 200 day moving average of $207.13.

Applied Materials (NASDAQ:AMAT) last released 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 net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the firm earned $1.90 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts expect that Applied Materials, Inc. will post 8.51 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 17.98%.

Applied Materials 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.