Narus Financial Partners LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Narus Financial Partners LLC lifted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 36.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,179 shares of the manufacturing equipment provider’s stock after buying an additional 314 shares during the quarter. Narus Financial Partners LLC’s holdings in Applied Materials were worth $238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Applied Materials by 89.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after buying an additional 4,239 shares during the period. Sivia Capital Partners LLC grew its stake in Applied Materials by 5.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock worth $552,000 after purchasing an additional 126 shares in the last quarter. International Assets Investment Management LLC grew its stake in Applied Materials by 5.4% during the 1st quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock worth $699,000 after purchasing an additional 172 shares in the last quarter. Calton & Associates Inc. acquired a new position in Applied Materials during the 1st quarter worth $243,000. Finally, Avantax Advisory Services Inc. grew its stake in Applied Materials by 17.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 23,949 shares of the manufacturing equipment provider’s stock worth $4,939,000 after purchasing an additional 3,529 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.7 %

Applied Materials stock opened at $186.36 on Monday. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. 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 company has a market capitalization of $154.30 billion, a P/E ratio of 21.42, a PEG ratio of 2.66 and a beta of 1.54. The stock has a 50-day simple moving average of $195.61 and a 200-day simple moving average of $209.24.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Equities research analysts expect that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 18.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMAT shares. Morgan Stanley lowered their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. Stifel Nicolaus lowered their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Wells Fargo & Company lowered their target price on Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Mizuho lowered their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

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.