Rede Wealth LLC Grows Position in Applied Materials, Inc. (NASDAQ:AMAT)

Rede Wealth LLC increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,265 shares of the manufacturing equipment provider’s stock after buying an additional 100 shares during the quarter. Applied Materials accounts for about 0.5% of Rede Wealth LLC’s holdings, making the stock its 22nd biggest position. Rede Wealth LLC’s holdings in Applied Materials were worth $1,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMAT. Crews Bank & Trust acquired a new stake in Applied Materials during the 4th quarter worth approximately $28,000. YANKCOM Partnership acquired a new stake in Applied Materials during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials during the 3rd quarter worth approximately $37,000. DT Investment Partners LLC lifted its position in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares during the period. Finally, City Holding Co. acquired a new stake in Applied Materials during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AMAT shares. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a research report on Friday, January 17th. Stifel Nicolaus decreased their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group reduced their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Finally, Barclays reduced their price target on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Stock Performance

Applied Materials stock opened at $180.00 on Friday. The company has a market capitalization of $146.29 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.86 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials, Inc. has a fifty-two week low of $158.96 and a fifty-two week high of $255.89. The stock has a fifty day moving average of $175.19 and a two-hundred day moving average of $185.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data 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. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 earnings per share. On average, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is currently 18.58%.

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.