D.A. Davidson & CO. Lowers Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

D.A. Davidson & CO. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,787 shares of the manufacturing equipment provider’s stock after selling 189 shares during the quarter. D.A. Davidson & CO.’s holdings in Applied Materials were worth $14,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAT. B. Riley Wealth Advisors Inc. grew its holdings in shares of Applied Materials by 8.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 15,703 shares of the manufacturing equipment provider’s stock worth $3,238,000 after purchasing an additional 1,218 shares during the period. Redwood Investment Management LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth about $907,000. Creekmur Asset Management LLC grew its holdings in shares of Applied Materials by 173.6% during the 1st quarter. Creekmur Asset Management LLC now owns 301 shares of the manufacturing equipment provider’s stock worth $62,000 after purchasing an additional 191 shares during the period. Beacon Capital Management LLC grew its holdings in shares of Applied Materials by 94.3% during the 1st quarter. Beacon Capital Management LLC now owns 583 shares of the manufacturing equipment provider’s stock worth $120,000 after purchasing an additional 283 shares during the period. Finally, First Western Trust Bank purchased a new stake in shares of Applied Materials during the 1st quarter worth about $218,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMAT shares. Morgan Stanley decreased their target price on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Needham & Company LLC reduced their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. TD Cowen reduced their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, B. Riley reduced their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.05.

Applied Materials Trading Down 0.8 %

NASDAQ:AMAT opened at $173.20 on Wednesday. Applied Materials, Inc. has a 1 year low of $144.57 and a 1 year high of $255.89. The stock has a market cap of $142.79 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.64 and a beta of 1.56. The business has a fifty day moving average of $189.26 and a 200-day moving average of $205.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the prior year, the business posted $2.12 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.92%. Applied Materials’s payout ratio is 18.58%.

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.