NorthCrest Asset Manangement LLC Boosts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

NorthCrest Asset Manangement LLC boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,985 shares of the manufacturing equipment provider’s stock after purchasing an additional 7,933 shares during the period. Applied Materials comprises 1.8% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 5th largest holding. NorthCrest Asset Manangement LLC’s holdings in Applied Materials were worth $60,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMAT. Wealthcare Advisory Partners LLC grew its position in shares of Applied Materials by 6.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,908 shares of the manufacturing equipment provider’s stock valued at $806,000 after acquiring an additional 250 shares during the period. Financial Management Professionals Inc. grew its stake in shares of Applied Materials by 5.6% during the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock valued at $191,000 after acquiring an additional 49 shares during the period. Independence Bank of Kentucky increased its holdings in Applied Materials by 75.0% in the 1st quarter. Independence Bank of Kentucky now owns 700 shares of the manufacturing equipment provider’s stock worth $144,000 after acquiring an additional 300 shares in the last quarter. Kathleen S. Wright Associates Inc. raised its stake in Applied Materials by 645.8% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 977 shares of the manufacturing equipment provider’s stock worth $206,000 after acquiring an additional 846 shares during the period. Finally, Winthrop Advisory Group LLC boosted its position in shares of Applied Materials by 5.3% in the first quarter. Winthrop Advisory Group LLC now owns 1,784 shares of the manufacturing equipment provider’s stock worth $368,000 after purchasing an additional 90 shares during the period. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of recent analyst reports. Citigroup decreased their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. UBS Group cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. B. Riley reduced their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective 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. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.14.

Applied Materials Stock Performance

NASDAQ AMAT traded up $2.77 on Friday, hitting $186.52. 4,794,657 shares of the company’s stock traded hands, compared to its average volume of 6,091,412. The firm has a market capitalization of $154.43 billion, a PE ratio of 21.44, a P/E/G ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The firm’s 50-day moving average price is $194.14 and its two-hundred day moving average price is $208.58. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the company earned $1.90 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

About Applied Materials

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.