Guinness Asset Management LTD Buys 47,245 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Guinness Asset Management LTD raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,678 shares of the manufacturing equipment provider’s stock after buying an additional 47,245 shares during the quarter. Guinness Asset Management LTD’s holdings in Applied Materials were worth $35,403,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Clean Yield Group purchased a new stake in shares of Applied Materials during the third quarter valued at approximately $33,000. First PREMIER Bank boosted its stake in 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 purchasing an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials in the 3rd quarter worth $37,000. DT Investment Partners LLC raised its stake in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. Finally, Dunhill Financial LLC lifted its holdings in shares of Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMAT. 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 report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research note on Friday, November 15th. Wells Fargo & Company cut their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Bank of America lowered their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $218.95.

Applied Materials Price Performance

NASDAQ:AMAT opened at $192.05 on Monday. The company has a market capitalization of $156.27 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.75 and a beta of 1.53. The business’s 50-day moving average is $173.10 and its 200 day moving average is $190.95. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $156.78 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the company earned $2.12 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Applied Materials, Inc. will post 9.37 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, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is 18.58%.

Applied Materials Company 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.