Graypoint LLC Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Graypoint LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,780 shares of the manufacturing equipment provider’s stock after buying an additional 198 shares during the period. Graypoint LLC’s holdings in Applied Materials were worth $1,572,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JT Stratford LLC grew its position in shares of Applied Materials by 0.4% during the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock valued at $2,246,000 after acquiring an additional 48 shares during the period. WASHINGTON TRUST Co boosted its holdings in Applied Materials by 3.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock worth $367,000 after buying an additional 49 shares during the period. Optimum Investment Advisors boosted its holdings in Applied Materials by 1.3% in the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock worth $948,000 after buying an additional 50 shares during the period. SlateStone Wealth LLC boosted its holdings in Applied Materials by 4.7% in the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after buying an additional 50 shares during the period. Finally, Forum Financial Management LP boosted its holdings in Applied Materials by 0.6% in the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock worth $1,847,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AMAT. Stifel Nicolaus cut their price objective on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 16th. Wells Fargo & Company cut their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, Susquehanna lowered their target price on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $194.09 on Friday. The stock has a market cap of $160.01 billion, a PE ratio of 21.81, a PEG ratio of 2.22 and a beta of 1.56. The company’s fifty day moving average is $191.07 and its 200 day moving average is $207.37. Applied Materials, Inc. has a 52 week low of $141.61 and a 52 week high of $255.89. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last issued its earnings results 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. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. Research analysts anticipate that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.

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.