Savoie Capital LLC Buys 10,400 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Savoie Capital LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,695 shares of the manufacturing equipment provider’s stock after acquiring an additional 10,400 shares during the quarter. Applied Materials comprises approximately 2.2% of Savoie Capital LLC’s holdings, making the stock its 11th largest position. Savoie Capital LLC’s holdings in Applied Materials were worth $17,719,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brophy Wealth Management LLC bought a new position in shares of Applied Materials in the third quarter worth about $374,000. M&T Bank Corp lifted its holdings in shares of Applied Materials by 106.5% during the third quarter. M&T Bank Corp now owns 690,160 shares of the manufacturing equipment provider’s stock worth $139,447,000 after buying an additional 355,926 shares during the last quarter. Executive Wealth Management LLC bought a new stake in shares of Applied Materials in the third quarter valued at approximately $1,223,000. Continuum Advisory LLC grew its stake in shares of Applied Materials by 25.2% in the third quarter. Continuum Advisory LLC now owns 1,035 shares of the manufacturing equipment provider’s stock worth $193,000 after acquiring an additional 208 shares during the last quarter. Finally, Tanaka Capital Management Inc. raised its stake in Applied Materials by 11.1% during the 3rd quarter. Tanaka Capital Management Inc. now owns 7,981 shares of the manufacturing equipment provider’s stock valued at $1,613,000 after purchasing an additional 800 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMAT has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. TD Cowen lowered their price objective 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. JPMorgan Chase & Co. boosted their price target on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.29.

Applied Materials Trading Down 0.7 %

AMAT opened at $171.86 on Tuesday. The firm’s fifty day simple moving average is $185.31 and its 200 day simple moving average is $202.74. The stock has a market capitalization of $141.68 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.63 and a beta of 1.52. 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 $148.05 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period last year, the company earned $2.12 earnings per share. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Applied Materials, Inc. will post 9.45 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company 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 $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. 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.