Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 96,140 shares of the manufacturing equipment provider’s stock after selling 1,600 shares during the period. Applied Materials comprises approximately 3.5% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 5th biggest holding. FRG Family Wealth Advisors LLC’s holdings in Applied Materials were worth $19,425,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Applied Materials in 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 $28,000. Clean Yield Group purchased a new stake in shares of Applied Materials during the 3rd quarter valued at $33,000. First PREMIER Bank grew its stake in shares of Applied Materials by 326.3% during 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 period. Finally, PSI Advisors LLC grew its stake in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMAT. Morgan Stanley restated an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Stifel Nicolaus reduced their target price on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Needham & Company LLC reduced their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Evercore ISI reduced their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $220.29.

Applied Materials Price Performance

NASDAQ AMAT opened at $171.86 on Tuesday. Applied Materials, Inc. has a 52 week low of $148.05 and a 52 week high of $255.89. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The stock has a market cap of $141.68 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.52. The company has a 50-day moving average price of $185.31 and a two-hundred day moving average price of $202.74.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.12 EPS. Analysts forecast that Applied Materials, Inc. will post 9.45 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 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.